Former NYC “worst landlord” strikes a deal, avoids foreclosure

An infamous New York City landlord and his lender have struck a deal. Ved Parkash, one of the city’s “worst landlords,” has agreed to sell three of his buildings as part of an agreement with Community Stabilization Partners, Gothamist reported. The lender issued an ultimatum requiring the sale of the buildings to prevent foreclosure on those properties, as well as 21 others in his company’s portfolio. The properties slated for sale include a 44-unit property at 1110 Anderson Ave. in the Bronx and an 84-unit complex at 89-20 161st St. in Queens, where Parkash defaulted on a mortgage loan in […]

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