Here are a few of the fruits of mismanagement. Leaky ceilings. No hot water. Asbestos exposure. Ballooning debt. Rising monthly maintenance. Misappropriated funds. And the maraschino on the sundae: foreclosure. These problems have led Michael Leifer, a shareholder at 618-unit Acropolis Gardens in Astoria, Queens, to bring a derivative shareholder suit against the co-op board and longtime property manager Steve Osman, alleging that Osman misappropriated millions of dollars over the years and board members were complicit in those actions, the Real Deal reports. Read the article………………
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