Landlord Steve Croman is staring down a fresh wave of legal trouble, with four foreclosure lawsuits filed March 6, 2026 that accuse him of defaulting on mortgages tied to nine Manhattan rental buildings stretching from the Lower East Side up to Harlem. The actions were brought by Dalan Real Estate, the investor that scooped up a large batch of Croman-linked loans last year. If the cases move all the way to auction or receivership, control of dozens of rent‑stabilized apartments could land in new hands.
New suits claim multimillion-dollar defaults
According to Crain's New York Business, the lawsuits were filed in Manhattan State Supreme Court and allege default on four mortgages that together cover nine buildings and about $43.4 million in debt. The complaints say Dalan acquired the loans in 2024 through an entity called NYC Multifamily Portfolio LLC and is now asking the court for foreclosure remedies. Crain's also reports that Dalan has at least 11 foreclosure cases pending against Croman.
Which buildings are on the line
The filings target a mix of walk‑ups and elevator buildings across Manhattan, including properties on the Lower East Side and in Harlem. Public records and prior reporting show that one cluster at 326–338 E. 100th Street was refinanced in 2019 with an Axos Bank loan of roughly $34.4 million, according to PincusCo. That complex has also been the focus of rent‑stabilization litigation described in court documents on Justia. Loan records connect the Axos financing to nearby addresses as well, including 151 and 153 Rivington Street.
Dalan's loan buy and earlier moves
Dalan purchased a portfolio of Croman‑backed loans from Axos Bank in October 2024 and has been pushing foreclosure and pre‑foreclosure actions on multiple buildings ever since, as reported by The Real Deal. The firm, led by CEO Daniel Wrublin, has been steadily working to enforce the debt it acquired and pursuing auctions or other enforcement tools where it says Croman has fallen behind.
What tenants could be looking at next
If a judge signs off on foreclosure remedies, the properties could be sent to public auction or placed in receivership, a shift that typically brings new building management and plenty of uncertainty for the people who live there. As Crain's New York Business notes, many of the buildings at issue include rent‑stabilized apartments, which any buyer, lender and the court will have to factor into whatever enforcement path moves forward. Tenant advocates say the near‑term worries are more practical than dramatic: confusing legal notices, the risk of slower repairs, and a prolonged tug‑of‑war over rent histories and long‑standing protections.
Croman's long legal backdrop and the broader trend
These new filings stack onto years of litigation tied to Croman’s portfolio. He has been the target of tenant lawsuits and lender crackdowns for more than a decade and served time for mortgage‑ and tax‑related convictions, according to The Real Deal. Dalan’s moves fit into a larger citywide pattern of debt buyers and lenders moving aggressively to squeeze value out of distressed multifamily loans. The coming months will reveal whether this latest batch of cases ends in auctions, negotiated restructurings, or drawn‑out court battles that keep both tenants and owners in limbo.
