The Philadelphia Housing Authority has offered to pay $24 million to purchase Brith Sholom House, a senior housing complex that fell into disrepair under the control of the Puretz real estate dynasty.
The Philadelphia Housing Authority has offered to pay $24 million to purchase Brith Sholom House, a senior housing complex that fell into disrepair under the control of a real estate dynasty that profited by running the apartments into the ground.
The complex was owned for years by the Brooklyn and Lakewood, N.J.-based Puretz family, which used fake charities and holding companies to score favorable financing and snap up some 100 low-income apartment complexes nationally during the 2010s.
Brith Sholom, a 360-unit apartment building, also in Wynnefield, has been under the care of a receiver since last fall, and the Puretzes have not taken part in litigation involving either the city, which revoked the rental license and filed suit over hundreds of code violations, or New World Commercial Credit, which sought to foreclose on its $36 million mortgage on the property.
Coyle said Pereira would have to come back on Aug. 26 with proof that he’d properly notified all creditors. Kim Wiggins said three of her tires were slashed and her daughter was physically assaulted during an altercation with building management. Others pointed to the laundry machines that were left unplugged, the lobby seating area that was closed off, the benches yanked from the building’s parklike front lawn and the elevators that seemed to stop working at inopportune times.
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