Search Results for: Predatory Equity Landlords

Council Members Denounce HPD Efforts Against Predatory Equity

Predatory Equity

City Council Members seek to strengthen tenant protections from predatory equity landlords. On October 31, 2016, City Council’s Committee on Housing and Buildings held a five-hour public hearing on a complement of five bills, two of which related to predatory equity.

Since the mid-2000s and largely due to the housing bubble, predatory equity has become a metastasis on the New York City housing market. The predatory equity get-rich-scheme works as thus: private investment money is … <Read More>

Schneiderman Announces New Legislation to Criminalize Tenant Harassment

Attorney General Schneiderman announces new legislation to crack down on rent regulated tenant harassment. On May 24, 2017, New York State Attorney General Eric. T. Schneiderman introduced the Tenant Protection Act of 2017. The new legislation is aimed at providing a criminal crack down landlords who harass their tenants. The legislation will be sponsored by Senator Liz Krueger and Assembly Member Joseph Lentol, and is another step in the Attorney General’s work regarding this topic.

Schneiderman Announces Indictment of NYC Landlord in $5 Million Mortgage Fraud Scheme

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>