Landlord Liability: After Manhattan Explosion, Family’s Real Estate Business Faces Scrutiny
April 20, 2015
Great article showing the risks of being a landlord and why it is important to make sure all your assets are protected.
The field of rubble on Second Avenue in Lower Manhattan where three buildings stood before they were destroyed by a gas explosion last month shares a neighborhood with restaurants serving borscht and varenyky, shops that post signs in Cyrillic and a store selling tubs of poppy seed spread. These are the vestiges of a pocket of the East Village neighborhood once so dense with Ukrainian immigrants fleeing Soviet control after World War II that it was known as Little Ukraine.
Little Ukraine gave ground to luxury apartments, cold-pressed juice bars, students and nightclubs. But as their compatriots moved on, the Hrynenko family, which owned 121 Second Avenue, the building at the heart of the disaster, dug in deeper, amassing a real estate empire rooted in the East Village and reaching far beyond.
The blast on the afternoon of March 26 came from the five-story red brick building constructed in 1886 and owned, public records show, by Maria Hrynenko, 55.