Nearly 50 tenants in five East Harlem buildings (112, 118, 122, 124, and 126 East 103rd Street, all formerly owned by Emerald Equities) won more than $500,000 in a settlement providing six months of rent credit and repayment of stolen security deposits.

The settlement compensates residents for years of dangerous building violations — including leaks, mold, pest infestations, and broken plumbing and electrical systems — and resolves longstanding claims of harassment and neglect against Emerald Equities and owner Isaac Kassirer.

Tenants were represented by The Legal Aid Society and Legal Services NYC, and organized by Community Voices Heard.

“Emerald Equities built its business model on neglect and harassment — and today, these tenants proved that those days are over,” said Sebastian Perez, an attorney in the Housing Justice Unit – Group Advocacy at Legal Aid.

“We are proud to have fought alongside these East Harlem tenants every step of the way,” he continued. “After years of abuse, these residents stood together and won real relief. As these buildings move through foreclosure, we’ll continue standing with tenants to ensure long-term, community-driven ownership that keeps families safely housed and neighborhoods strong for generations to come.”

With the five buildings now in foreclosure, tenants and organizers are exploring long-term preservation options. A community land trust is working with residents to assemble a bid to purchase three of the buildings. The goal is to bring the properties under community ownership and ensure they remain permanently affordable and safe for East Harlem families.