- See more at: http://blogtimenow.com/blogging/automatically-redirect-blogger-blog-another-blog-website/#sthash.Q6qPkwFC.dpuf Tenant Activists: HPD Must Block Sale of Milbank Buildings to Mystery Buyer | Bronx News Networkbronx

Tuesday, September 21, 2010

Tenant Activists: HPD Must Block Sale of Milbank Buildings to Mystery Buyer

Milbank Memo

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.

1 comment:

  1. NWBCCC are full of it! Can someone please tell me one of their achievements! And that Gabe guy is creepy!


Bronx News Network reserves the right to remove comments that include personal attacks, name calling, foul language, commercial advertisements, spam, or any language that might be considered threatening, libelous or inciting hate.

User comments are reviewed by BxNN staff and may be included or excluded at our discretion.

If what you have to say is unrelated to this particular post, please visit our readers' forum.