Rent-Stabilized Buildings in Crown Heights Sold at Auction Following Landlord Code Violations

New York, NY, September 4, 2026 —

Rent-stabilized apartment buildings in the Crown Heights neighborhood of Brooklyn have been sold at a recent auction. The sale concluded following a tense bidding process, with the properties ultimately acquired by a preferred buyer.

The buildings were previously under the ownership of a landlord who had been cited for numerous housing code violations. The specifics of these violations, including dates and exact numbers, were not detailed in the summary of the trend.

Mark Schwartz has been identified as the new owner of the apartment buildings. According to reports, Schwartz has made pledges to preserve the properties. Furthermore, he has expressed openness to exploring the conversion of the buildings into resident-owned cooperatives.

The outcome of this auction is being viewed as a positive development for tenant advocacy groups and the city’s housing enforcement efforts. The sale represents a transition from a landlord with a history of code violations to a new owner who has committed to preservation and potential resident ownership structures. The exact date of the auction and the total number of tenants affected were not provided in the summary.

The trend summary indicated that the auction was tense, reflecting the significant interest and stakes involved for the tenants and other parties concerned with the future of these rent-stabilized units. The successful bid by a preferred buyer, who has now committed to preservation, is seen as a key element in the resolution.

The role of city housing enforcement in the lead-up to the sale, particularly in citing the previous owner for code violations, appears to have been a contributing factor in the eventual change of ownership and the subsequent pledges made by the new proprietor.

Story summarized from the original created by Jeanmarie Evelly on citylimits.org, see more information here.

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