Bay Ridge developer faces foreclosure on 19 abandoned properties

TRD 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
(Getty, iStock)

Hudson’s Bay, Simon Property Group hit with $846M foreclosure lawsuit

Hudson’s Bay, Simon Property Group hit with $846M foreclosure lawsuit
Citizens Bank CEO Bruce Van Saun and SL Green CEO Marc Holliday with 106 Spring Street (Getty; Sl Green; Google Maps)

One of Soho’s priciest retail spaces heads to foreclosure

One of Soho’s priciest retail spaces heads to foreclosure
Senator Mitch McConnell and House Speaker Nancy Pelosi (Getty)

$2.2T House stimulus package would ban evictions for 12 months

$2.2T House stimulus package would ban evictions for 12 months
Governor Andrew Cuomo (Getty; iStock)

Commercial evictions, foreclosures halted through October

Commercial evictions, foreclosures halted through October
Tillary Hotel at 85 Flatbush Avenue (Image via Kutnicki Bernstein Architects)

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure

Isaac Hager’s Downtown Brooklyn hotel heads to foreclosure
A million homeowners haven’t requested forbearance on their mortgages — and are now at risk for foreclosure and eviction. (iStock)

1M struggling homeowners didn’t request forbearance. Now what?

1M struggling homeowners didn’t request forbearance. Now what?
U.S. foreclosure filings in August jumped 11% as some states ended relief measures, though continued government intervention has prevented sharper increase (iStock)

US foreclosure filings jump as some states end relief measures

US foreclosure filings jump as some states end relief measures
FHFA director Mark Calabria (Getty; iStock)

Fannie and Freddie extend eviction, foreclosure moratorium

Fannie and Freddie extend eviction, foreclosure moratorium
arrow_forward_ios

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

Loading...