City Lists Worst Places to Call Home
(Wall Street Journal) — New York housing officials identified 200 buildings they say are the most poorly maintained in the city and are responsible for more than 20,000 hazardous violations. Brooklyn had the highest number of problem buildings with nearly half the list at 99. The Bronx was next with 70 offenders; Manhattan was third with 23. While a handful of landlords had more than one building on the list, one of the highest totals was represented by a portfolio of Bronx buildings formerly owned by the private-equity firm Milbank Real Estate. The buildings went into foreclosure in 2009 when Milbank defaulted on $35 million in debt. Six out of 10 of those Milbank buildings are on the list. All 10 are currently maintained by a bank-appointed special servicer, LNR Property Corp.