Leagem Partners, a rent-stabilized landlord, claims that the proptech startup Rezi wrongfully took rental payments, leading to a $49 million foreclosure filing. Rezi, which promised to lease vacant units and pay landlords a minimum rent, allegedly diverted rents into its own accounts to pay off lenders rather than into a trust for Leagem. When Rezi’s credit lines dried up, the startup continued collecting rents, but these funds went to its lenders instead of the landlord. Leagem has since filed lawsuits to recover these funds as it faces foreclosure on four properties in Manhattan and Queens.
Leagem Partners
