The Northwest Bronx Community and Clergy Coalition fired off a memo to HPD Commissioner Rafael Cestero earlier today, asking that he block a mystery buyer's attempts to purchase 10 rundown apartment buildings.
The memo, which is also signed by several of the buildings' tenants associations, warns:
Every indication is that these buildings are being purchased for the sum of $ 35,000,000, the original cost of the mortgage. We view this as an unsustainable sum that will produce further deterioration of these properties.
The buildings, which combined have 3,336 housing violations, were previously owned by Milbank Real Estate, a private equity firm which defaulted on its loan.
For background see here, here, and here.