NY judge orders foreclosure sale of middle-class Harlem housing complex

A judge has ordered the foreclosure sale of the historic Riverton Houses, a middle-class Harlem apartment complex that plummeted in value amid the housing downturn. The decision by State Supreme Court Justice Richard Braun, released Tuesday, called for the auction of the gated community and its 1,232 apartments, which were built in the 1940s. With the property now valued at a fraction of the mortgage price, it appeared unlikely that the creditors that financed the $225 million deal would recoup all their losses.

Most Popular Articles

Latest Articles

The HELOC dam is opening. Are you ready? 

U.S. homeowners are using HELOCs to access trillions in home equity amid rising interest rates. Mortgage originators should explore this area with innovative financing solutions like bank statement HELOCs.

3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please