Controversial Landlord Samy Mahfar Reportedly in Contract to Purchase 113 Stanton; Tenants Ready to Fight Back
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Word on the street is that controversial landlord Samy Mahfar is padding his portfolio of properties on the Lower East Side with yet another acquisition. Several sources tell us that Mahfar’s SMA Equities corporate entity is “days from closing” on 113 Stanton Street, between Ludlow and Essex.
Given his pockmarked track record of acquiring and upscaling properties, residents of 113 Stanton are already preparing for the worst. We hear chatter that tenants have taken a page directly from the playbook of 102 Norfolk and are organizing for a protracted fight. The “Mahfar Coaltion,” if you will, has already alerted Councilwoman Margaret Chin, the Cooper Square Committee, and CAAAV. It’s no doubt a wise preemptive move, especially given Mahfar’s notorious conduct at other Lower East Side properties.
113 Stanton is situated beside the San Loco, and is a half-block from two other infamous Mahfar properties – 143 and 177 Ludlow.
Hopefully the State Attorney General Eric Schneiderman takes note of Mahfar’s tactics and acts accordingly, i.e. launches another probe.