City overpaid for slumlord buildings, assuming rent would cover cost


City Hall inflated the value of the 21 buildings it bought off two notorious, politically-wired slumlords for $173 million by assuming they will generate far more rent than they’ll actually receive, documents released late Monday show. The 2,000 page document dump came in response to a subpoena issued by City Comptroller Scott Stringer, a fierce…

Original published: 2019-04-16 00:52:57 Read the full New York City News here


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