So Far, So Good on Bronx Milbank Repairs, Say Tenants

Editor's Note: This story was first published in the latest edition of the Norwood News, on the streets and online now.

By Jeanmarie Evelly

Steve Finkelstein bought the Milbank buildings
back in April, under intense scrutiny.
(Photo: Jordon Moss)

Two and a half months ago, when Steve Finkelstein took over the infamous Milbank buildings—10 formerly foreclosed properties in the northwest Bronx that made national headlines last year for their terrible living conditions—he had a lot of eyes watching him.

The plight of the Milbank tenants, as the group came to be known, captured the attention of countless city groups, the mayor, the City Council and the Department of Housing Preservation and Development (HPD), all of which vowed to monitor the new owner to make sure conditions at the buildings improved immediately. Finkelstein, a Scarsdale-based landlord who owns dozens other of Bronx buildings, bought the properties for $28 million at the end of April after months of negotiations with tenants and the city.

Devastated Milbank Buildings Finally Sold

Speaker Christine Quinn, Mayor Bloomberg, Borough President Ruben Diaz, Sen. Gustavo Rivera and tenants celebrate the sale of the Milbank portfolio at a press conference yesterday.

By JORDAN MOSS and JEANMARIE EVELLY

It was a rare scene for the transfer of a residential apartment building: Tenants, a new landlord and a variety of city elected officials, from the mayor on down, gathered Tuesday for a press conference that turned out to be a celebration.

The now-infamous Bronx Milbank buildings, including one at 2264 Grand Avenue, were finally sold last week to a new landlord after months of local organizing and city involvement. Tenants, advocates and elected officials had fought to wrest the portfolio of 10 deeply troubled properties from irresponsible bankers and owners to a responsible party who could afford to make them livable again.

Over 100 people showed up for the announcement of the sale at 3018 Heath Ave., where the building had brand new windows -- the first of what tenants hope will be many improvements to come at this and the other Milbank properties.

"We now have someone to communicate with -- someone to hold accountable," said one tenant, Twyla Rashid, who described conditions at her building as “devastating.”

The one to hold accountable now is Steven Finkelstein, a Scarsdale-based landlord who purchased the mortgage and the deeds to the properties in a $28 million deal last week, and faces a mountain of some 4,000 housing code violations.

Milbank Buildings Sold to Scarsdale Landlord

Milbank's 10 Bronx buildings have over 4,000 housing violations among them. (File photo by J. Evelly)

 

Another chapter in the ongoing Milbank Bronx housing saga: the 10 crumbling apartment buildings were finally sold last week to a Scarsdale-based landlord after months of negotiations, according to Crain's New York.

Steve Finkelstein bought the mortgage and the deeds to the properties in a $28 million deal, the article reports, promising to start serious and immediate repairs at the violation-riddled buildings, and agreeing to report to HPD within 30 days about what work he's done.

Finkelstein, who owns 31 other buildings in the Bronx, told Crain's he expects to face an "amazing amount of work," but that he's sending eight-man crews into every building to start on repairs.