Tenants Want to Prevent Sale of 47 Apartment Buildings

By GlobeSt News Hub

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HARLEM, NY-Hope Community Inc., a nonprofit group, that manages up to 1,300 apartments in Harlem wants to buy and renovate foreclosed apartment buildings in the area, previously owned by Dawnay Day.

However, members of the tenant associations in the 47-apartment complex are not convinced that Hope is up to the task. Dawnay Day bought the 1,100 apartment buildings in 2007 for $225 million and last year the properties fell into foreclosure. For the full story, go to Wall Street Journal.

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Categories: Northeast, , Distressed Assets, New York