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City says it secured record penalty against negligent owners.

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Title: City says it secured record penalty against negligent owners.
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]
Copyright of Crain's New York Business is the property of Crain Communications Inc. (MI) and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
Database: Regional Business News
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  Data: 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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  Data: <i>Copyright of Crain's New York Business is the property of Crain Communications Inc. (MI) and its content may not be copied or emailed to multiple sites without the copyright holder's express written permission. Additionally, content may not be used with any artificial intelligence tools or machine learning technologies. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract.</i> (Copyright applies to all Abstracts.)
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      – SubjectFull: New York (N.Y.). Dept. of Housing Preservation & Development
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              Text: 5/11/2026
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