Citizens Bank files 6 pre-foreclosures totaling $34.65M in Fordham Heights

Citizens Bank filed six pre-foreclosure actions in New York State Supreme Court in the Bronx on Tuesday totaling $34.65 million alleging the loans secured by six rental buildings in Fordham Heights, the Bronx, were in default.

The properties are owed by affiliates of real estate investor John LaRocca, who purchased them in 2016.

The elevator building 2095 Creston Avenue with an $8.4 million loan and 79 residential units in Fordham Heights has 70,110 square feet of built space and 41,210 square feet of additional air rights for a total buildable of 111,249 square feet. This property was sold for $12.9 million on March 22, 2016. Case LINK

The elevator building 108 Field Place with a $7 million loan and 60 residential units in Fordham Heights has 51,750 square feet of built space and 17,480 square feet of additional air rights for a total buildable of 69,230 square feet according to a PincusCo analysis of city data. This property was sold for $9.9 million on March 22, 2016. Case LINK

The walkup building 2086 Creston Avenue with a $6.05 million loan and 52 residential units in Fordham Heights has 45,426 square feet of built space and 13,507 square feet of additional air rights for a total buildable of 58,923 square feet. This property was sold for $6.9 million on March 22, 2016. Case LINK

The walkup building 2065 Creston Avenue with $4.7 million loan and 40 residential units in Fordham Heights has 32,815 square feet of built space and 22,367 square feet of additional air rights for a total buildable of 55,185 square feet. This property was sold for $5.1 million on March 22, 2016. Case LINK

The elevator building 2324 Morris Avenue with a $4.6 million loan and 43 residential units in Fordham Heights has 41,910 square feet of built space and 16,770 square feet of additional air rights for a total buildable of 58,695 square feet. This property was sold for $6.4 million on March 22, 2016. Case LINK

The elevator building 2075 Creston Avenue with a $3.9 million loan and 31 residential units in Fordham Heights has 29,000 square feet of built space and 11,132 square feet of additional air rights for a total buildable of 40,129 square feet. This property was sold for $4.4 million on March 22, 2016. Case LINK