Art Capital, a financial firm specializing in art-backed loans, is suing jailed landlord Steve Croman and his wife Harriet for allegedly backing out of a $50 million loan Croman sought following his guilty plea to mortgage and tax fraud charges in June. According to the complaint, Croman signed a term sheet for a $50 million loan backed by his Upper East Side Mansion and 38 pieces of fine art. The term sheet included exclusivity and …
Steve Croman agrees to pay record $8M to tenants he harassed
Steve Croman, a major multifamily landlord who is serving a prison sentence for mortgage fraud, agreed to pay a record $8 million in restitution to tenants he harassed, the New York state Attorney General’s office announced Wednesday. An independent manager will run more than 100 of Croman’s properties, and Croman will also have to pay for a court-appointed monitor who will ensure compliance. “Over and over again, Steven Croman acted as though he was above …