More landlords ditch apartment buildings when they can’t make payments

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The risk of abandonment for apartments has climbed significantly in the market downturn, according to the city Department of Housing Preservation and Development, which said that the number of at-risk buildings has jumped 44 percent in fiscal year 2009, from the previous year. City officials said that the financial downturn has left many landlords unable to handle the cost of mortgages and even smaller financial obligations, like necessary building repairs. The resulting crop of fleeing landlords has resulted in a financial strain on the city, the New York Post reported. Last year, the Housing Department spent around $4 million on repairs for abandoned buildings in Brooklyn, for example.

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