A New York City landlord was indicted for mortgage fraud scheme in Lower Manhattan, stemming from tenant harassment investigation. On April 6, 2017, New York State Attorney General Eric T. Schneiderman announced the indictment of Dean Galasso, a New York City landlord. Galasso was indicted on six felony charges in relation to an alleged scheme to fraudulently obtain a multi-million-dollar mortgage to finance the acquisition of a rental building. Galasso faces one count of Grand … <Read More>
Search Results for: Acquisition
Report Identifies Flaws in DOB’s Auditing of Professionally Certified Applications
Comptroller’s audit found that Buildings generally implemented adequate controls over construction permit applications, but issued three recommendations to ensure public safety. On June 17, 2016, the Officer of the Comptroller Scott Stringer released a report of an audit conducted on the Department of Buildings’ processing of construction permits. The audit determined that Buildings’ controls for the processing of application were implemented consistently, that there were appropriate separation of duties, and an adequate application tracking system. … <Read More>
City Developer Denied Tax Abatement
Court found that application was not filed within the statutory time period of one year. On January 27, 2016, the New York State Supreme Court denied a Brooklyn developer’s petition to reverse a Department of Finance decision to not grant a tax abatement. The Developer, 96 Wythe Acquisitions, filed the petition after the Department of Finance denied the application for the tax abatement because it was not filed within the mandatory one-year requirement. 96 Wythe … <Read More>
$350 Million Investment In Affordable Housing
Partnership announced to establish a $350 million fund to support affordable housing throughout the City. On July 30, 2014, Mayor Bill de Blasio and Comptroller Scott M. Stringer announced a partnership to establish a $350 million fund to support affordable housing throughout New York City. The new financing was raised through the support of Citi, the New York City Retirement Systems, the New York City Housing Development Corporation, Wells Fargo, Morgan … <Read More>
City Planning Approves New City Island Bridge
New causeway design for City Island Bridge applauded by community and local elected officials. On May 21, 2014, the City Planning Commission unanimously approved an application by the New York City Department of Transportation and Department of Parks and Recreation for a city map amendment to facilitate the construction of a new City Island Bridge in the Bronx. City Island Bridge, which connects City Island to Rodman’s Neck, was built in 1901 and was determined … <Read More>
City Council End of Year Round Up; Kingsbridge Armory Approved; Midtown Zoning Disapproved
New York City: Largest Ice Sport Center Approved in the Bronx.
Image credit:
On December 10, 2013, the City Council voted 48-1 to turn the Kingsbridge Armory, currently a vacant landmark, into an ice sports center. The $275 million development project by KNIC Partners, LLC will feature nine ice rinks and approximately 64,300 sq. ft. of related program space, including a wellness and off-ice training center, curling rinks, and locker and equipment storage. The … <Read More>