The new owners of One Canal Place, the 32-story office tower at the foot of Canal Street, have filed for Chapter 11 bankruptcy protection less than three months after acquiring the high rise for $28 million.
Brothers Michael and David Shabsels, New York-based real estate investors who acquired One Canal Place in March, placed their sprawling network of companies in bankruptcy on June 5 in New Jersey, reporting assets of between $100 million and $500 million and debts of between $500 million and $1 billion, court records filed as part of the restructuring process show.
The local office tower is among about 80 properties across 24 states, including office buildings, shopping…