Living amid mold and decay, NYC tenants demand bank take on repairs for defaulted properties

NYC tenants in defaulted properties demand fixes

NEW YORK — New York City tenants living with falling ceilings and mold-filled homes in buildings that were caught up in the national housing collapse are demanding that those connected to their landlord’s failed mortgage step in to help.

The company that bought the 10 buildings in the Bronx defaulted on their loans last year. Tenants filed court papers Wednesday demanding that Wells Fargo bank and LNR Partners pay to fix more than 4,400 housing violations in 548 apartment units.

Wells Fargo is the trustee for the commercial mortgage-backed security that includes the failed loan on the buildings. A Wells Fargo spokeswoman says special servicer LNR Partners is responsible for any necessary property repairs.

An LNR spokeswoman won’t comment.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

NEW YORK (AP) — New York City tenants living with falling ceilings and mold-filled homes in buildings that were caught up in the housing collapse are demanding that those connected to their landlord’s failed mortgage step in to help.

The company that bought the 10 buildings in the Bronx defaulted on their loans last year. Tenants filed court papers Wednesday demanding that Wells Fargo bank and LNR Partners pay to fix more than 4,400 housing violations in 548 apartment units.

Wells Fargo is the trustee for the commercial mortgage-backed security that includes the failed loan on the buildings. A Wells Fargo spokeswoman says that special servicer LNR Partners is responsible for any necessary property repairs.

LNR didn’t immediately return a call seeking comment.