Aside from bad governance, debt-ridden New York City mayor Mayor de Blasio also is facing a deep financial problem.
Sources said de Blasio has dug himself a deeper, $2.5 million hole by taking out another mortgage on his Park Slope home.
The latest financial data of de Blasio has shown that the chief city executive and his wife, Chirlane McCray, secured a $615,342 loan in June on their 11th Street residence.
The de Blasio couple had previously borrowed $625,000 against the $1.56 million houses, although it’s unclear how much of that they still owe.
The couple began a massive renovation project on the century-old house this fall, ahead of their anticipated return to the property once de Blasio leaves office in January.
Plans filed with the city show substantial additions on the second and third floors of the row house. Work is also to include new windows and siding and a paint job.
The couple also inked a $543,425 mortgage consolidation agreement in May for a second home, valued at $1.65 million, they own on the same street, getting $18,938 in cash, records show.
This and other debts have shown that de Blasio has an outstanding debt of $2.5 million.
De Blasio blamed his failure to pay debts on the ongoing COVID-19 pandemic.
“Everything got put on hold. Obviously, I intend to address that debt and put together the resources over time. It will take time, but I absolutely intend to address it. That’s what I’ve done in the past,” de Blasio said.