Episode Details

A single East Harlem building at 312 East 106th Street has seen three wildly different sale prices in just two years, sparking questions about hidden deals and market manipulation. Initially listed at $285,110 — a 97% drop from its 2016 price — the sale was actually forced by a mezzanine lender, with Klosed Properties snapping it up. But the story gets murkier: the building had been part of a massive portfolio deal, then resold for $1.636 million, and later for $3 million, involving multiple LLCs, shadowy buyers, and heavy mortgage activity. With tenant protection laws making renovations financially unviable, these dizzying price swings hint at a deeper, more complex game behind the scenes.

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