9 City Skyline Realty buildings face foreclosure

Douglas Peterson, owner of City Skyline Realty, is no stranger to the challenges of being a rental owner in Manhattan. This week, several lawsuits were filed against Peterson in Manhattan Supreme Court, alleging default on a combined seven buildings in Manhattan and two in the Bronx, with a total debt of $55.4 million.

Among the defendants listed in the lawsuits is Maurice Arlos, though his exact connection to the portfolio is unclear. When approached for comment, Peterson declined to speak with Crain's, the publication which originally reported the story.

Arbor Agency Lending and Greystone Servicing are among the lenders pursuing foreclosure on the properties. While City Skyline Realty may be facing financial difficulties, Peterson's company continues to operate and manage numerous properties throughout the city.

This situation highlights the volatile nature of the real estate market in New York City, where even seasoned developers like Peterson can find themselves struggling to keep up with the high costs and competition. It also raises questions about the role of lenders and their willingness to support struggling developers.

https://therealdeal.com/new-york/2025/09/25/city-skyline-realty-facing-foreclosure-at-nine-buildings/