BREAKING NEWS: An Update for Riverton Tenants
September 23, 2026
The Riverton Tenants Association is aware that a court has appointed a temporary receiver for Riverton as part of a foreclosure case involving A&E properties. We are reviewing what this means for residents and will share verified updates here.
What happened?
Wells Fargo, acting as trustee for the lender, filed a foreclosure case that includes Riverton Square LLC and other property owners. The lender alleges a default on a mortgage with an original principal amount of $506.3 million covering multiple properties. That figure is the original loan amount, not a confirmed current balance owed.
On September 11, the court appointed Christopher Neilson as temporary receiver for Riverton and other properties named in the order.
What does a receiver do?
The court’s order authorizes the receiver to collect rent, pay property expenses and oversee certain operations and repairs while the case continues. The receiver must obtain further court approval before appointing a managing agent. The order also places limits on certain repair spending.
A&E remains the owner at this time. The court has not ordered a foreclosure sale.
What about rent payments?
The order directs tenants to pay rent to the receiver rather than the property owners. We are seeking clarity on when and how residents will receive verified payment instructions.
Please do not stop paying rent because of the receivership. Before changing where you send a payment, verify any new instructions through an official written notice. Keep copies of notices and payment records.
What is RTA doing?
RTA has retained an attorney and is working to protect tenants’ interests throughout this process. We are reviewing the court order, seeking clarity about management and rent collection, and continuing our work on building conditions and the Riverton Regulatory Agreement.
We will post updates here as information is confirmed. RTA remains the independent tenant association representing Riverton residents.
Source: Wells Fargo Bank, N.A. v. Riverton Square, LLC et al., New York County Supreme Court, Index No. 850059/2025, Decision and Order dated September 11, 2026, NYSCEF Document No. 206.