Brooklyn Borough President Eric Adams wants state officials to investigate a city program that takes troubled multifamily buildings away from owners and hands them over to developers. The city’s Department of Housing Preservation and Development’s Third Party Transfer (TPT) program allows the city to foreclose on properties burdened with unpaid water bills, debt and disrepair and sell them to a developer for the nominal fee of $1 and $8,750 per unit, excluding the super’s apartment. […]
source https://therealdeal.com/2018/11/26/brooklyn-boro-prez-says-citys-multifamily-transfer-program-may-be-tainted-by-fraud/
No comments:
Post a Comment