The Standing Dead: Law Tackles the Plague of Zombie Properties in New York

When the New York Knicks granted Latrell Sprewell a five-year contract extension for $62 million in 2000, he settled into a home in Purchase, NY with his own basketball court and outdoor pool, as well as a $2.3 million mortgage. The value of the home increased at one point to $5.4 million though Sprewell had no more need for the property when he was traded away from New York in 2004.Read the full article