As Adams Tries to Change the Subject (Again), His Real Estate History Gets Murkier
New York – On the same day a new story emerges on Eric Adams’ shady real estate dealings, he’s hosting a press conference to try and change the subject and hide from important questions about his ethics and conflicts of interest. The story, as detailed in The City, shows an elected official who is not filing proper tax returns and playing by different rules than everyone else.
Following this bombshell report, a few important questions to ask Eric Adams this morning:
- Why is he not supporting a rent freeze during an economic downturn that’s left New Yorkers vulnerable to evictions?
- Is he not supporting the rent freeze to cover up his shady real estate dealings like a co-op apartment in Prospect Heights that he did not disclose in 2005 disclosure forms candidates must fill out, or 2006 forms State senators must?
- Has he paid the taxes all landlords are required to pay for the $50,000 per year he’s collected in rents over many years ? Why are there no amended tax returns proving this?
- Where are his tax returns from 2015 and 2016 and did he disclose his rental income on those forms?
- In 2017 and 2018, Adams filed with the IRS that he’d netted zero taxable income because of work done on the Lafayette Avenue apartment, but there are no records with the Department of Buildings showing work being done. Why? Why did he not file a “Schedule E” with the IRS that lays out rental income and expenses, which would show the work being done? Why did someone call 311 to report an illegal apartment and work being done without a permit?
- Why is there no official record of transfer of the Prospect Heights apartment?