For over a decade, Sanford Capital has purchased apartment complexes in Washington, D.C., that often service the city’s working class, and now it looks like the landlord has begun to sell some of those properties.
Bisnow reported that the notorious landlord currently has a portfolio of 1,300 residential units. One of the developments, the 42-unit Columbia Heights building, known as Fairmont Place, recently sold for $7.25 million to Petra Development.
Sanford Capital’s 49-unit Brookland development, called Tivoli Apartments, also sold this past August for $5.1 million to E&G.
When it comes to how Sanford Capital treats its projects, D.C. Attorney General Karl Racine filed two lawsuits against the landlord due to negligent conditions at the Terrance Manor development. Bisnow further reported that the landlord is also facing a housing discrimination suit from the Equal Rights Center.
Additionally, Sanford Capital plans to sell its Terrace Manor complex to D.C.-based WC Smith for $6 million, reported Washington City Paper in September 2017.
In February 2017, Washington City Paper further reported that residents in one of Sanford Capital’s developments have had to face ventilation issues, air conditioning and heating issues, dead refrigerators, and cockroaches. Fungus has also been an issue.
Since 2009, Sanford Capital has collected nearly $150,000 worth of fines, according to the D.C. Department of Consumer and Regulatory Affairs in an interview with the Washington City Paper.
• Terrace Manor Bankruptcy Heads Toward Resolution [Washington City Paper]
• Sanford Capital Blames D.C. for Tenants' Prolonged Hardship [Washington City Paper]
• Sanford Capital Weighs Potential Buyers for Its Decrepit Terrace Manor Complex [Washington City Paper]
• Life Is Hell for Tenants of Giant D.C. Slumlord Sanford Capital [Washington City Paper]