City Going After One of Our ‘Ten Worst Landlords’ in a Big Way


The city is starting what appears to be a full court press against a notorious private-equity-backed landlord and his network of crumbling buildings in Harlem and Washington Heights. Over the course of two days, October 21 and 22, the city brought housing court repairs lawsuits against seven buildings controlled by Perseus Capital Management and the financier behind it, Steven Carter.

We named Steven Carter as one of the city’s worst landlords back in March. Perseus is the management arm of Cronus Capital. Cronus is an affiliate of HIG Capital, a $7.5 billion European private-equity firm. Carter is the head of Cronus.

It looks like the city is starting to pay attention to the fact that Carter is the one actually calling the shots. Evan Hess, a tenant advocate from the Northern Manhattan Improvement Corporation who has been involved with many lawsuits against Perseus, says this is the first time he has seen Carter’s name on a legal document.

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