Riverton Houses in Harlem to Be Sold in Foreclosure

clipped from www.nytimes.com Riverton Houses in Harlem to Be Sold in Foreclosure By CHARLES V. BAGLI Justice Richard F. Braun of State Supreme Court in Manhattan ordered the sale of the complex at public auction to satisfy the owner’s $240.6 million debt. The complex sits between 135th and 138th Streets, from Fifth Avenue to the Harlem River. Riverton, like a number of complexes during the real estate boom, was bought for top dollar in 2005 by a company led by the developer Laurence Gluck, who had a plan to increase profits by replacing tenants in rent-stabilized apartments with market-rate tenants.