Kramer Levin Naftalis & Frankel attorneys working pro bono helped a group of low-income residents stay in their Brooklyn apartment building this month, despite a lengthy legal battle that included a foreclosure auction and a bankruptcy filing.
The building, on Atlantic Avenue in Brownsville, became part of the city’s Housing Development Fund Corp. program in 1980 and remained financially stable with a 25-year tax abatement. The residents had nearly paid off a loan from the U.S. Department of Housing and Urban Development by the time the tax abatement expired, but their loan was sold to a private debt holder.
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