Exclusive | Landlord sues upscale ‘squatters’ in luxe NYC tower who racked up a colossal $78K in back rent

The rent is too damn high — except when it isn’t being paid.

Two deadbeat residents with an apparent taste for the finest are squatting in a swanky Central Park South tower, having racked up an eye-popping $78,375 plus interest in back rent, a new Manhattan Supreme Court lawsuit alleges.

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And, according to other records, this isn’t their first run-in with alleged financial issues. 

Daniel and Susan Bancroft have lived in No. 9GH in the white-gloved 240 Central Park South since August 2023.

The couple signed a two-year renewal on July 1, 2025 at the tower — home to the pricey Marea seafood restaurant — with the monthly rent climbing from $12,500 in the first year to $13,062.50 for the second. 

According to the suit, the couple stopped paying rent in full shortly after re-upping at the 28-story, 340-unit landmarked building, which stands in the immediate shadows of the supertall towers along Billionaires’ Row.

A previous listing for their unit says it spans 1,500 square feet, with two bedrooms and two bathrooms. Its floor plan shows a large dressing room and a study connected to the master suite — as well as a kitchen that leads into a large living room.

The Bancrofts, who didn’t respond to a request for comment, didn’t pay rent for any of it in October or November 2025, paid less than the total in January and February 2026, and then made no rent payments from April through July 2026, according to a court exhibit.

The lawsuit hits the Bancrofts with three separate causes of action: breach of contract, legal fees, and use and occupancy. The owners seek to recoup past, current and future rent — and get an additional $50,000 for legal fees and expenses.

The building owner, the Korein family, named in the lawsuit as Central Park South Associates, L.L.C, “continues to be out-of-pocket paying for expenses such as taxes and other charges, while Tenants lives in his luxury apartment rent-free,” per the suit.

The Korein family, which has owned the property since 1983, didn’t respond to a request for comment, nor did their attorneys.

Susan, 65, and Daniel have had their fair share of other financial troubles. 

Most recently, the pair was hit with a $223,873 federal tax lien in July 2024 while living at this Central Park South address, and a $112,718 tax bill in January 2020 when they lived at a penthouse nearby at 160 W. 66th St., court documents indicate. It isn’t immediately clear if these have been resolved.

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In late 2017, Malvern Federal Savings Bank sued Daniel in Manhattan Supreme Court for failing to pay $74,107.46, which the bank had mailed to Daniel on or before Jan. 2, 2014, court records also indicate. The matter was dismissed without prejudice a couple of years later.

For his part, Daniel, 66, appears to be a John Hopkins University graduate and leader of the transportation practice at WTW, a global professional services firm, since January 2020.

He has also worked as transportation practice leader at Willis Towers Watson, as senior vice president and transportation practice leader at Willis North America in New York and as Philadelphia-based managing director and transportation practice leader for Marsh.

The Bancrofts also filed for Chapter 13 bankruptcy in Philadelphia federal court in October 2012, but the case was tossed less than a year later over missed paperwork, records indicate.

Susan said in the bankruptcy documents that she owed money to Bloomingdale’s and Citibank, while Daniel owed money to several banks, including Nordstrom Bank, as well as an attorney, Neiman Marcus, Martha’s Vineyard Hospital and Massachusetts General Physicians Organization.

They listed their assets and liabilities both in the range of $500,001 to $1 million, and their address as 1406 Orchard Way, in Bryn Mawr, Pennsylvania. They owned that property for around 20 years until June 2024.

The luxury high-rise is famed for its prime position overlooking Central Park.

Famous past residents in the Art Deco edifice include Renée Zellweger and Angie Harmon as well as broadcaster Bill Boggs and the late Oscar-nominated actress Sylvia Miles. 

Three apartments are listed for rent on the building’s website: a 600-square-foot studio for $4,800 per month, a 500-square-foot one-bedroom for $6,000 monthly and a junior four with 1.5 baths that clocks in at 925 square feet and $10,000 a month. The building has a fitness center, and a rooftop lounge and deck overlooking the park.

“It is anticipated that Tenants will not make further payments to Landlord for rent and/or use and occupancy under the Lease unless directed to do so by the Court,” per the complaint, which says that the landlord is entitled to collect ongoing fees until the family regains possession of the unit.

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