The Real Deal New York

NYC’s “worst landlord” collected $2.7M in tax breaks, subsidies

Bronx-based Ved Parkash topped Public Advocate Letitia James's annual list

December 09, 2015 08:05AM

From left: 2911 Barnes Avenue in Bronxwood and Laeticia James

From left: 2911 Barnes Avenue in Bronxwood and Letitia James

Accused slumlord Ved Parkash, who has more than 4,000 serious housing rule violations to his name, has allegedly benefitted from millions in public subsidies and tax incentives.

The Bronx-based Parkash, who owns about 60 buildings, has collected more than $500,000 in Section 8 subsidies from the federal government over the past five years, according to the New York Post. He’s also received $2.2 million in state tax breaks for four of his buildings.

He’ll receive an additional $338,000 in tax credits for senior citizen housing this year.

Parkash, who owns a lavish Long Island mansion, was declared the city’s “worst landlord” by Public Advocate Letitia James in her annual list.

The landlord told the Post his buildings are well maintained and that he’s never received any tax benefits or subsidies.

Back in October, Parkash bought two rental buildings in the Bronx, and 2911 Barnes Avenue and 2910 Wallace Avenue, for $30.6 million. [NYP]Ariel Stulberg