How’s this for fishy? The house at 14A Monroe Street in Bed Stuy sells for $325,000 in July 2003 and the buyer takes out a $570,000 mortgage at the same time. Two years later, he sells it for $950,000 to a guy who finances $855,000 of the purchase. Now it’s in foreclosure and the bank is left holding the bag. That’s what we’d call a cash machine.
14A Monroe Street [PropertyShark] GMAP