RWN buys distressed Harlem site at bankruptcy auction
Ari Shalam’s RWN Real Estate Partners emerged as the top bidder in a bankruptcy auction to buy Hans Futterman’s distressed...
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Investors are coming for your distressed RE
The trend has already been playing out in New York for some time, where some of the city’s most prominent developers have stepped in to grab properties from developers who bit off more than...
Turning Mayday into payday
In December, Kevin Maloney and Kamran Hakim gave up on a development site in Long Island City they’d spent nearly three years assembling. The partners wanted to build a $750 million, 914-foot-tall rental and...
10 most distressed properties in NYC
UPDATED, 5:49 p.m., October 1: Savvy real estate investors made a killing on distressed properties in the wake of the financial crisis. But as the market continues to get stronger — and as distressed...
Queens firms sued in alleged foreclosure rescue scam
A Queens resident has filed the first New York City case under the new “distressed-property consultant law,” accusing two...
Chinese investors scoop up distressed properties
The 2012 purchase of New York’s Cassa Hotel, whose owners were in bankruptcy proceedings, is but one example of Chinese...
New York State pledges $60M to help homeowners facing foreclosure
New York State is pledging $60 million over three years to fund counseling and legal services for New York...
U.S. lenders increasingly turn to short sales, benefiting market
Lenders are increasingly turning to short sales for foreclosed properties, providing relief for both the distressed homeowner and the...
Lawyers with political connections earn large fees as receivers for distressed NYC properties
From left: Mark Lebow, Seymour Boyers, Howard Vargas, Paul Vallone and Marc Landis Lawyers appointed by judges to be receivers of distressed properties typically...
New York Community unloads mortgages on Bronx properties, angering city officials
New York Community Bank has unloaded the mortgages on Van Cortlandt Village, three foreclosed Bronx buildings on Sedgwick Avenue,...
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