Tangled web of investors own Manida apartments

City records say a company called OCG VIII owns the apartment complex at 621-623 and 625-627 Manida Street.
Between 2006 and 2007, the investment firm Ocelot Capital Group created eight subsidiaries, OCG I through OCG VIII. These subsidiaries then purchased 25 distressed and rent-regulated properties around the Bronx.

If Ocelot had grand plans for their acquisitions, they seem to have fallen by the wayside. Earlier this month, 18 people were hospitalized because of a carbon monoxide leak at 1512 Leland Ave, a property owned by Ocelot. The firm denied responsibility, however, claiming the buildings are in a pending sale.

In court on March 11, the judge told the Manida Street tenants to charge Hunter Property Management with failing to make repairs and provide services. Hunter took over management of the buildings in November, and may be in the process of taking ownership, as well.

Pending sale or no, however, Seth Donlin, a spokesman for the city Department of Housing Preservation and Development, says ultimate responsibility still falls on OCG. To cover all the bases, the Manida tenants’ next round of filings will be against Hunter, its head officer Steve Lee, and OCG.

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