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A little known secret in Battery Park City is that those costly monthly ground lease bills owed to the BPCA are optional, or so it would seem. For many years, dozens of apartment owners have been refusing to pay them, yet the BPCA is not enforcing the law and is making no legal actions to confiscate the properties. Robert Serpico is the BPCA’s CFO in charge of finances.
BatteryPark.TV has now learned that numerous buildings in BPC have met with the BPCA to discuss the first steps toward collecting the unpaid ground lease bills. In many cases, the deadbeat apartments owe more than $100,000 in payments per apartment.