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

Some local news is curated - Original might have been posted at a different date/ time! Click the source link for details.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Send this to a friend