Debt-ridden Mayor de Blasio has dug himself a deeper, $2.5 million hole by taking out another mortgage on his Park Slope home.
De Blasio and his wife, Chirlane McCray, secured a $615,342 loan in June on their 11th Street residence, public records show.
They had previously borrowed $625,000 against the $1.56 million house, 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.
Hizzoner also owes the lobbyist/law firm Kramer Levin an estimated $435,000 in legal fees, with interest, related to a probe into his fund-raising activities, according to a report in The City.
The mayor never set up an expected legal defense fund to pay the tab.
And he failed to reimburse taxpayers nearly $320,000 to cover expenses for the misuse of his security detail to campaign for president, the city Department of Investigation found in a scathing report.
“Mayor de Blasio has not reimbursed the City for these expenses, either personally or through his campaign,” the report said.
Altogether, these known debts total more than $2.5 million. His campaign and political action committees are also in the hole, with debts reported at more than $185,000.
De Blasio on Thursday blamed his failure to pay the Kramer Levin bill on the 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,” he said at his daily briefing.
De Blasio is paid $258,750 as mayor. He also received rental income from the Brooklyn homes, taking in between $5,000 and $49,999 from each of three tenants in 2020, according to his latest financial disclosures.
He has hinted that he may run for governor, a job that pays less than mayor. The salary for the state’s top spot was supposed to rise to $250,000 in 2021, although former Gov. Andrew Cuomo deferred the hike and kept his salary at $225,000.
A City hall rep said HIzzoner’s latest borrowing would be used to fund the home renovation project.