NYC Deed Theft Investor Jailed After 10-Year Scheme

After years of legal delays and more than 50 court adjournments, Sanford Solny, a New York City real estate investor accused of stealing dozens of homes from struggling homeowners, was jailed this week during a probation hearing.

For over ten years, prosecutors say Solny built his real estate empire through deed theft. He targeted homeowners behind on their payments, presenting himself as a lawyer who could arrange a short sale with banks.

Homeowners were told they would get a small payout and their debts would be cleared.

In truth, homeowners were not getting relief from their mortgages—they were signing over the titles to their homes.

The mortgages often stayed in the homeowners’ names, while Solny moved in renters and collected rent for himself.

NYC deed theft investor jailed on Probation Violation

In 2018, Solny pleaded guilty in Queens State Supreme Court to possession of stolen property.

He was sentenced to five years of probation in 2019 but broke the terms less than three months later by stealing another home in Brooklyn.

This 2019 theft, first reported by The New York Times, became part of a Brooklyn State Supreme Court trial that ended this summer. Solny was convicted of stealing 11 homes but was allowed to remain free while waiting for sentencing, scheduled later this month.

Lawyer Calls Sudden Custody Move “Sandbagging”

However, during his probation hearing in Queens on Tuesday, Solny was unexpectedly taken into custody.

Defense lawyer James Kousouros said the 68-year-old, who has high blood pressure, did not bring his medication and called the move “sandbagging” his client.

Victims React: “It’s About Time” for Justice

Justice Nestor Diaz of the State Supreme Court denied the lawyer’s appeal, which argued that jailing Solny on the eve of Yom Kippur was insensitive given his health.

The court is adjourned until November 10, and Solny is expected to remain in custody until then. His Brooklyn sentencing could add more time behind bars.

Many of Solny’s victims, most of whom are Black or Latino, felt some relief. Some have been fighting to reclaim their homes for over a decade, though it is unclear if they will succeed.

“It’s about time,” said Lisa Abbott, who lost her triplex in Bedford-Stuyvesant after turning to Solny in 2012 for help with a short sale.

She received a small payment under $15,000 with a promise of a larger payout once the property sold, but it never came. Today, the property is valued at about $1.8 million.

The Financial and Emotional Toll on Homeowners

“It has been very, very financially, emotionally draining,” Abbott said. “It has cost me so much of my health.”

Solny’s lawyers argued he was not a flight risk, noting that his cases had been delayed over 50 times without incident. They also pointed out that in the Brooklyn case, Solny and his LLCs were acquitted on dozens of other charges, including some serious ones.

The Severity of Stealing a House in New York

But John McNiff, representing the New York Department of Probation, said the convictions that did stick were serious. “This is not stealing something from Walmart,” McNiff said in court. “This is basically a house. It takes a lot of work.”

Author Profile

Saleem Mubarak: The writer is a real estate journalist specializing in all types of New York City properties, including luxury residences, commercial spaces, and homes.

He also writes humorous articles about real estate, investors, and realtors.