City says it secured record penalty against negligent owners.
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| Title: | City says it secured record penalty against negligent owners. |
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| Authors: | Grieve, Jack (AUTHOR) |
| Source: | Crain's New York Business. 5/11/2026, Vol. 42 Issue 18, p22-22. 1p. |
| Subjects: | Fines (Penalties), New York (N.Y.). Dept. of Housing Preservation & Development, Foreclosure, Dwellings, Boroughs, Affordable housing, Housing authorities |
| Geographic Terms: | Bronx (New York, N.Y.), New York (N.Y.) |
| Abstract: | The article focuses on New York City securing $31 million in penalties against the owners of two Bronx apartment complexes, Robert Fulton Terrace and Fordham Towers, due to longstanding housing code violations. These penalties, the largest ever ordered by the Department of Housing Preservation and Development (HPD) from negligent landlords, result from litigation initiated by HPD's Anti-Harassment Unit in 2024. The buildings, owned by Fordham Fulton Realty and currently in foreclosure, are subject to court-appointed management changes and funds allocated for urgent repairs, with city officials urging mortgage holder Fannie Mae to support renovations and facilitate a responsible sale. Mayor Zohran Mamdani emphasized the city's commitment to addressing landlord neglect and improving affordable housing conditions. [Extracted from the article] |
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| Database: | Regional Business News |
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| Abstract: | The article focuses on New York City securing $31 million in penalties against the owners of two Bronx apartment complexes, Robert Fulton Terrace and Fordham Towers, due to longstanding housing code violations. These penalties, the largest ever ordered by the Department of Housing Preservation and Development (HPD) from negligent landlords, result from litigation initiated by HPD's Anti-Harassment Unit in 2024. The buildings, owned by Fordham Fulton Realty and currently in foreclosure, are subject to court-appointed management changes and funds allocated for urgent repairs, with city officials urging mortgage holder Fannie Mae to support renovations and facilitate a responsible sale. Mayor Zohran Mamdani emphasized the city's commitment to addressing landlord neglect and improving affordable housing conditions. [Extracted from the article] |
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| ISSN: | 8756789X |
