Michael Besen’s company will manage Steve Croman’s portfolio

Besen’s New York City Management will run Croman’s buildings for five years

TRD New York /
Jun.June 19, 2018 06:08 PM

Steven Croman

Steve Croman may be out of jail, but he is still years away from being able to run his properties again.

The New York state Attorney General’s office has selected Michael Besen’s New York City Management to operate Croman’s portfolio of more than 100 buildings as of July 1, according to the Commercial Observer. The company will run the properties for five years.

Croman had proposed two other companies instead of NYC Management, but the state rejected them. He will only be allowed to have “incidental” interactions with his tenants while Besen’s company is running the buildings.

Croman reached a settlement with the state last year over harassment of his tenants. The agreement required him to find an independent company to manage his residential properties and pay his tenants a record $8 million in restitution.

A monitor will also oversee Croman’s compliance with the settlement for seven years, and Croman is required to pay for both the monitor and NYC Management.

The notorious landlord pleaded guilty last June to tax fraud and was sentenced to one year in jail and a $5 million fine. He was released on June 1 after serving eight months.

Besen recently accused his business partner Amit Doshi of setting up a secret account to use almost $1.5 million of company money for personal investments and trying to steal a Jackson Heights property that the two co-owned. He has filed a court summons seeking injunctive relief and up to $10 million in damages. [CO] – Eddie Small


Related Articles

arrow_forward_ios
Steve Croman and 566 Hudson Street (Credit: Google Maps, iStock)

Steve Croman sued over illegally deregulating apartments

Steve Croman sued over illegally deregulating apartments
Steve Croman and 326-340 East 100th Street (Credit: Getty Images and Google Maps)

Lawsuit against landlord Steve Croman receives class action status

Lawsuit against landlord Steve Croman receives class action status
Steve Croman to buy West Village literary landmark for $14M: report

Steve Croman to buy West Village literary landmark for $14M: report

Steve Croman to buy West Village literary landmark for $14M: report
Placeholder image

Real estate ad dollars vanished as pandemic spread

Real estate ad dollars vanished as pandemic spread
317 West 77th Street (Google Maps, iStock)

Townhouse owners make federal case of cell tower next door

Townhouse owners make federal case of cell tower next door
Fredrik Eklund, Julia Spillman and John Gomes (Getty, iStock)

Threatened by tech, agents turn to app

Threatened by tech, agents turn to app
(iStock)

Mortgage applications to buy homes now higher than a year ago

Mortgage applications to buy homes now higher than a year ago
155 West 11th Street and 1100 Park Avenue (FXFOWLE; Google Maps)

Manhattan luxury market shows tentative signs of activity

Manhattan luxury market shows tentative signs of activity
arrow_forward_ios

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

Loading...