Statement from Governor David A. Paterson Regarding the Order of Foreclosure for Riverton Houses
Albany, NY - February 4, 2010 - (RealEstateRama) — Governor Paterson today issued the following statement regarding the order of foreclosure for Riverton Houses, in Harlem:
“On Tuesday, State Justice Braun of the Supreme Court of Manhattan ordered the foreclosure sale of the storied Riverton Houses, a middle-class Harlem enclave that ran into trouble a year ago when its new owner failed to make good on optimistic revenue projections and defaulted on his mortgage. The 1,230 unit complex sits between 135th and 138th Streets, from Fifth Avenue to the Harlem River.
“This project was purchased and refinanced at the height of the real estate market in 2005, with the assumption that the new owner would convert the units to market rate apartments. I am concerned that the current foreclosure action will result in diminished services for these tenants, especially those 1,100 families in rent-stabilized apartments.
“I have directed the State’s housing agencies, the Division of the Housing and Community Renewal and NYHomes, to work with the tenants, lenders and potential purchasers to maintain and preserve this important Harlem landmark as permanent affordable housing.”
Related posts:
- Governor Paterson Announces Passage Of Comprehensive Foreclosure Legislation
Albany, NY - November 16, 2009 - (RealEstateRama) -- Governor David A. Paterson and Legislative Leaders today announced passage of the Governor’s Program Bill No. 46, which provides additional critical protections for New York State homeowners, tenants and neighborhoods in the wake of the ongoing foreclosure crisis. ...
- Governor Paterson Announces Grants as Part of New York’s Continued Efforts in Fighting Foreclosure Crisis
New York, NY - July 24, 2008 - (RealEstateRama) — Governor David A. Paterson today announced a total of $1,765,000 in grants as part of New York’s continued efforts to address the subprime mortgage crisis. The grants will be provided to non-profit agencies for homeownership assistance and foreclosure prevention counseling, advocacy and legal services. Governor Paterson has made addressing the...
- Governor Paterson Unveils Comprehensive Foreclosure Legislation To Strengthen Protections For Homeowners, Tenants And Neighborhoods
Albany, NY - June 3, 2009 - (RealEstateRama) — Governor David A. Paterson today announced legislation that would build upon a landmark subprime lending reform law enacted last year by providing additional critical protections for New York State homeowners, tenants and neighborhoods in the wake of the ongoing foreclosure crisis. The bill would help homeowners currently at risk of foreclosure...
- Governor Paterson Signs Comprehensive Foreclosure Legislation into Law
Albany, NY - December 15, 2009 - (RealEstateRama) -- Governor David A. Paterson today signed into law comprehensive foreclosure legislation which provides additional critical protections for New York State homeowners, tenants and neighborhoods in the wake of the ongoing foreclosure crisis....
- Governor Paterson Announces Additional New York State Grants To Fight Foreclosure Crisis
Albany, NY - September 24, 2008 - (RealEstateRama) — Governor David A. Paterson today announced a total of $3,495,000 in grants as part of New York’s continuing efforts to address the subprime mortgage crisis. This brings the total grants awarded this summer to $9.4 million. Consistent with the previous grants announced in July and earlier this month, the grants announced...
Comments
No comments yet.
Leave a comment