Flatiron District, Manhattan
Monthly maintenance and common charges are the lifeblood of every co-op and condo, so naturally boards shiver when a resident falls into arrears. But few boards experience an arrears bill as chilling as the one run up by Thomas Kaplan, a shareholder in a luxury co-op in the Flatiron District.
It currently stands at $488,000 and counting—plus legal fees, Crain’s reports.
As you might suspect, there is a story behind this massive unpaid bill. It begins in August 2023, when Kaplan, an investor in precious metals and collector of precious paintings by Rembrandt, stopped paying monthly maintenance on his penthouse apartment and assorted storage units…