Barry Singer is considered one of the “worst landlords” in New York City by Public Advocate Jumaane Williams. His lenders may not be a fan these days, either.
A $39 million mortgage backing a housing portfolio in the Bronx was transferred to special servicing this month after Singer fell behind on payments, Crain’s reported. Singer is also delinquent on property taxes, according to a report from Morningstar Credit Analytics.
Additionally, insurance for the portfolio was force-placed because the loan servicer purchased coverage after Singer failed to do so.
The portfolio in question includes 160 West Kingsbridge Road, 3004, 3011, 3021 & 3030 Heath Avenue. 2487 & 2497 Grand Avenue and 2500 Webb Avenue. Singer refinanced his mortgage backing the portfolio in late 2021; LMF Commercial was the lender, according to Traded.
It’s just the latest issue for Singer’s troubled portfolio, which he acquired for $28.9 million in 2014 before investing $833,000 in improvements, according to Fitch Ratings.
Last fall, the Department of Housing Preservation and Development sued the landlord for failing to address violations deemed “immediately hazardous” across the 300-unit portfolio, conditions that often need to be addressed within a 24-hour period.
Last month, a Bronx County Civil Court judge ordered Singer to repair problems at one of the buildings, 3030 Heath Avenue. An attorney for Singer, however, said the order was “injurious and prejudicial” and claimed the landlord was “working diligently” to solve the problem within three weeks.
In 2024, Singer earned the top spot in the Public Advocate office’s annual “Worst Landlord” list. Last year, he ranked third with 15 buildings on the agency’s watchlist, covering 426 units. His portfolio has nearly 2,900 open HPD violations as of the publication of the list.
Singer’s problems at the rent-regulated portfolio may only grow if Mayor Zohran Mamdani follows through on his pledge to freeze the rent for stabilized units.
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