City tapped De Blasio donor to take over foreclosed properties

Groups including Frank Carone's RiseBoro donated $100,000 to political campaigns including de Blasio's presidential campaign

TRD New York /
May.May 28, 2019 02:00 PM
Mayor Bill de Blasio and Frank Carrone (Credit: Getty Images)

Mayor Bill de Blasio and Frank Carone (Credit: Getty Images)

Frank Carone’s RiseBoro Community Partnership and Nancy Lepre’s Avante Contracting were among groups that gave at least $100,000 to political campaigns, including Mayor Bill de Blasio’s presidential campaign, and were chosen to take over properties the City foreclosed on as part of the third-party transfer program. Many of the foreclosures were in gentrifying neighborhoods.

Carone holds significant sway over appointments of judges who then hear the foreclosure cases, and can rule in favor of the City. Those same judges can then transfer the properties to Carone’s RiseBoro Community Partnership. “The implication on the third-party transfer program is pure and utter nonsense,” a spokesperson for Carone told the New York Daily News.

Carone, longtime de Blasio ally, is chief lawyer for the Brooklyn Democratic Party, has connections to the former Brooklyn kingmaker Vito López and represents the Podolsky Brothers. The influential lawyer came under scrutiny just last month when it was found that Carone represented the Podolsky brothers in the City’s purchase of 21 “cluster sites” for $173 million which was overvalued by $26 million, according to records.

Carone has also made donations to state Attorney General Letitia James and city Comptroller Scott Stringer, both of whom could investigate the program.

[New York Daily News] Georgia Kromrei


Related Articles

arrow_forward_ios
Thor Equities' Joe Sitt and 725 8th Avenue (Credit: Google Maps)

Thor facing foreclosure at Theater District building

Home foreclosures dropped nearly 20% in Q3, report shows

Home foreclosures dropped nearly 20% in Q3, report shows

Manhattan’s 10019 zip code, which covers Midtown, Times Square, Herald Square and Midtown South, saw the most foreclosures in the borough with eight. (Credit: iStock)

Manhattan foreclosures soar 118%, driven by mortgage defaults

When Bill de Blasio announced the end of his campaign, the industry reacted largely with relief but not surprise (Credit: Getty Images and Pixabay)

De Blasio’s campaign is dead, and real estate is happy

Gary Barnett says luxury market is crowded, WeWork IPO woes continue: Daily Digest

Gary Barnett says luxury market is crowded, WeWork IPO woes continue: Daily Digest

The blackout impacted a 42-block stretch of Manhattan between the Hudson River and Fifth Avenue (Credit: Getty Images)

Con Ed still searching for answers in Manhattan blackout

Mayor Bill de Blasio and Rikers Island (Credit: Getty Images)

Real estate development not coming to Rikers Island, mayor says

15 East 63rd Street and Oleg Cassini (Credit: Google Maps and Getty Images)

Oleg Cassini’s former UES headquarters faces foreclosure

arrow_forward_ios