A Nigerian property owner, Olufemi Falade, whose building collapsed onto an adjacent construction site in Brooklyn, New York, killing eight people, reportedly owes more than $450,000 in unpaid taxes, water bills and government fines.
The property owner has also been listed six times on the New York City public advocate’s annual “Worst Landlords Watchlist” over allegations of poor property management.
According to the New York Post, an examination of city records showed that Falade accumulated most of the outstanding debts through the three-storey building at 1321 Flatbush Avenue, which collapsed on Wednesday.
The records indicated that he owes $170,000 in fines issued by the Department of Buildings in 2019 over improperly displayed signs, alongside $114,945 in unpaid water bills and $113,526 in property taxes dating back to 2021.
Falade also reportedly owes the Internal Revenue Service $49,269 in unpaid personal federal income taxes, according to a 2010 lien, as well as another $4,316 in personal income taxes to New York State.
The building, which had 98 outstanding violations with the city’s Department of Housing Preservation and Development before the collapse, reportedly had a history of maintenance and safety problems.
The violations included a leaking roof, defective doors, bedbug infestations and exposed electrical wiring. Records showed that complaints over the leaking roof dated back to 1976, with further violations issued as recently as this year.
Falade purchased the 96-year-old property in 1999 through an entity known as Femi Realty Corp. In November 2024, he transferred ownership to another company he controls, Isolag Realty Corp, signing the deed as both seller and buyer without any money changing hands.
The report also revealed that Falade was sentenced to 12 days in jail in 2006 and fined $50,000 for civil contempt after failing to address more than 1,800 violations across 12 Brooklyn buildings he owned at the time.
Meanwhile, questions have emerged over the approval of excavation plans at an adjacent construction site believed to have contributed to the collapse.
The New York City Department of Buildings reportedly approved the excavation plans in March for a proposed three-storey, 25,000-square-foot mixed-use development at 2625 Bedford Avenue.
However, the approved plans allegedly failed to provide adequate structural reinforcement alongside the building that subsequently collapsed.
Real estate attorney Massimo D’Angelo, of Blank Rome, called for improved coordination between city agencies responsible for property safety and enforcement.
