Four bankrupt multifamily properties, totaling 1,512 units, in New Orleans that were previously owned by Crown Capital are now for sale.
Moshe “Mark” Silber, a principal at Somerset, New Jersey-based Crown Capital, was sentenced to 30 months in prison earlier this year for his role in a conspiracy to commit wire fraud affecting a financial institution.
However, Silber’s legal issues aren’t the only challenges facing the four properties. Currently, 412 units in the portfolio are offline, according to a news release shared with Multifamily Dive…