From City Limits:
With the recent announcement that Omni New York LLC would take over the mortgage on 14 low-income Bronx apartment buildings, the last of the notorious Ocelot properties started the transition from foreclosure limbo to new ownership.
The properties are a 25-building package in full, all sharing the name of the real estate investment firm that bought them in 2006 and 2007, and the problems that came with the Ocelot Capital Group’s absentee ownership and subsequent abandonment in 2008. Those include holes in the floors and the ceilings, broken doors, vermin and mold, according to residents and the city Department of Housing Preservation and Development.
Now the fates of these run-down buildings are diverging. While tenants of the Omni buildings anticipate repairs and relief, the residents of the other former Ocelot buildings — purchased last spring and summer by Hunter Property Management and Paradise Management — are still waiting for a happy ending.