Firm ordered to pay $2.5M to fix Bronx apts.

A Bronx judge has ordered the Florida-based firm overseeing 10 dilapidated, foreclosed-upon apartment buildings in the borough to fork over $2.5 million within 30 days to cover repairs and maintenance on the properties.

The properties, owned by Millbank Real Estate, have been in foreclosure for 18 months with more than 3,000 housing code violations.

Tenants have been trying to get LNR, the service that oversees Milbank's $35 million mortgage, to help finance repairs. However, LNR says it was in the process of selling the homes to an undisclosed buyer.

The $2.5 million is a fraction of the up to $26.6 million that an architect's report released by the City Council last week estimates is required.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."