On the steps of City Hall, Stabilizing NYC announced its list of 10 predatory equity landlords throughout New York City. A crowd of about 100 tenants, advocates and public officials gathered in front of City Hall to announce those landlords who reportedly force tenants to live in horrendous and often dangerous conditions.
Number 4 on the list, ICON Realty Management, has properties in North Brooklyn.
“Predatory equity landlords are jeopardizing tenant safety and housing stability throughout the city. We will be targeting these landlords to help tenants fight back against the predatory practices that put their homes at risk,” said Keriann Pauls, a staff attorney with the Community Development Project at the Urban Justice Center.
Recently, the New York City Council has introduced legislation useful to lawyers and organizers in this struggle against predatory equity, including the Predatory Equity Watch List. With additional resources, Stabilizing NYC is working with the city council to enforce these new laws against predatory equity landlords.
“Landlords who act in bad faith in order to kick out tenants to make a profit and flip buildings should pay attention: we’re developing tools that will protect tenants and their homes, and disallow landlords from beefing up their pockets through illegal actions,” said Councilmember Ritchie Torres. “I’m proud to be working with CAPE and Stabilizing NYC on legislation to confront the problem of predatory equity that seeks to destroy affordable housing and communities.”