Rent-stabilized heavyweight City Skyline just took another punch.
After defaulting on loans tied to five rent-regulated buildings this summer, the firm, headed by Douglas Peterson, was hit by pre-foreclosure filings from Fannie Mae on 11 buildings in Upper Manhattan and the Bronx, court records show.
Peterson’s latest defaults total $72 million, bringing the firm’s distressed debt to $108 million. That’s about one-third of City Skyline’s $316 million portfolio, according to landlord tracker Who Owns What.
The buildings listed in the pre-foreclosure complaint are also rent-stabilized. About half of the portfolio’s 302 units are rent-regulated, tax records show.
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