Bay Ridge developer faces foreclosure on 19 abandoned properties

New York /
Jan.January 24, 2012 08:30 AM

Bay Ridge residents hoping to oust a prolific developer who has amassed about 30 buildings in the neighborhood are getting some help from the foreclosure crisis. According to the New York Daily News seven of Mousa Khalil’s properties have already undergone foreclosure auction and 12 more are mired in early stages of the process.

Neighbors allege that Khalil abandons the homes and leaves them to deteriorate upon purchase, which is blighting the neighborhood. Several voiced frustration and annoyance with Khalil.

“When you have a vacant property on a block, when it’s boarded up, it becomes an eyesore,” said Josephine Beckmann, district manager of the local community board. “There should be no reason for it – in our community, he’d be able to rent them.”

But their great white knight didn’t arrive last week when seven of the properties went up for auction with a lien of $2.34 million, the News said. No bids were submitted.

Khalil had previously converted one of his Bay Ridge properties into an illegal hostel, which the Department of Buildings eventually raided. [NYDN]


Related Articles

arrow_forward_ios
Drone Photo by Frank Galasso, Vertical Media
DeNardo Capital loses Westchester condo project in bankruptcy sale
DeNardo Capital loses Westchester condo project in bankruptcy sale
Children’s Fund moves to foreclose on Ceruzzi’s UES condo project
Children’s Fund moves to foreclose on Ceruzzi’s UES condo project
Children’s Fund moves to foreclose on Ceruzzi’s UES condo project
Rialto sues to recover $18M on Diamond District building after owner’s murder-suicide
Rialto sues to recover $18M on Diamond District building after owner’s murder-suicide
Rialto sues to recover $18M on Diamond District building after owner’s murder-suicide
The Centre at Purchase at 1, 2, 3, 4 Manhattanville Road with George Comfort & Sons CEO Peter Duncan (George Comfort & Sons)
Westchester office park owned by George Comfort & Sons slated for auction
Westchester office park owned by George Comfort & Sons slated for auction
Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
Wells Fargo hit with $400M suit for breach of contract linked to robo-signing scandal
Inside the fight over New York’s foreclosure laws
Inside the fight over New York’s foreclosure laws
Inside the fight over New York’s foreclosure laws
1 St. Mark’s Place heads for foreclosure
1 St. Mark’s Place heads for foreclosure
1 St. Mark’s Place heads for foreclosure
Distrikt Hotel and Stephen Ellman of Zeichner Ellman & Krause (Tripadvisor, Flintlock, ZEK)
Midtown’s Distrikt Hotel heads for foreclosure as receiver named
Midtown’s Distrikt Hotel heads for foreclosure as receiver named
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...