History of Neglect

  • Buildings purchased by Ocelot group

    On its way to picking up 800 buildings in the Bronx, the Ocelot Capital Group buys six buildings: one in Highbridge, two in Morris Heights, and three in Soundview for $16.6 million dollars. Included in the deal is a $13.5 million dollar mortgage from the Dime Savings Bank of Brooklyn.
  • HPD orders Ocelot to pay $60,000 in fines

    Ocelot, facing a financial shortfall when their Israeli investors cut and run, stops performing routine maintenence on their buildings. In June 2008, the New York City Department of Housing Preservation and Development (HPD) ordered Ocelot to repair over 3,000 violations and pay $60,000 in fines.
  • Buildings sold to BXP 1LLC

    Buildings sold to BXP 1LLC
    BXP 1 LLC led by Queens realtor Sam Suzuki purchases the six foreclosed buildings from Ocelot capital for $13.5 million. Suzuki intends to purchase 14 other Ocelot buildings at a later date.
  • 14 Ocelot Buildings sold to Omni New York LLC

    14 Ocelot Buildings sold to Omni New York LLC
    While the Suzuki buildings languish, Omni New York, LLC, a housing development company led by former New York Met Mo Vaughn, purchases the debt on 14 other Ocelot buildings. Omni pledges to make $1 million in emergency repairs in the buildings.
  • Morris Heights buildings named "most distressed"

    Morris Heights buildings named "most distressed"
    1636 and 1640 Dr. Martin Luther King Blvd are listed among the city's most distressed buildings by HPD. The six buildings have over 2,000 open violations.
  • Suzuki sentenced to jail

    Bronx Housing Judge Jerald Klein orders Suzuki to jail after he fails to make court-mandated repairs to 1585 E 172nd Street. Suzuki spends 24 days in jail.
  • Bluestone Group takes over building operations

    Read the story in Crain'sA month after Suzuki is sentenced to prison, the Manhattan-based Bluestone Group purchases the debt on the buildings for $10 million– a $3.5 million dollar discount. Bluestone promises to make extensive repairs to the buildings.
  • Sam Suzuki relieved of duty for 1585 E 172 Street

    After his release from prison, Sam Suzuki is relieved of his responsiblity for 1585 E 172 Street by a Bronx Court.
  • Buildings sold to Anthony Gazivoda

    Buildings sold to Anthony Gazivoda
    A year after Bluestone takes control of the buildings, they are sold to Bronx-based Gazivoda Realty for $21.4 million. Gazivoda, an Albanian realtor, owns over 30 other buildings in the Bronx.