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Troubled Three Borough Pool to Trade

NEW YORK CITY—Part of the bankrupt portfolio has been sold to Black Spruce Management, report says.

By David Phillips | Updated on April 27, 2015

NEW YORK CITY—The Three Borough Pool, a portfolio of about 1,700 apartments that represented one of the city’s largest recent foreclosure proceedings is being sold, according to a recent report in the Wall Street Journal.

The owners of the properties (scattered throughout Brooklyn, northern Manhattan and the Bronx) have sold seven of the portfolio’s buildings for about $58 million to Black Spruce Management, the Journal says, citing public records. The seven acquired buildings, all in the Bronx, comprise more than 500 apartments

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