Auction @ One Beacon Court

mkts are so frozen they gotta go auction route.... if this was 2007.... they would've listed w/ a brokerage .... and then be done w/ it.... but then again.... the mkt was at an all time high, Bernie was picking out a yacht, this douche was buying lawyers.... and so here we are 6-09....

I looked at most of the apts listed, they really go for top $...
Amazing that this single auction may drop the value of this entire building by more than $100 millions.

again, as posted before, this is the unit owned by the lawyer who defrauded his clients and others and is not in bankruptcy.

This building is great for celebs. A huge circular driveway and at least 4 security guards 24x7 outside

"again, as posted before, this is the unit owned by the lawyer who defrauded his clients and others and is not in bankruptcy."

But they are holding the auction in Bankruptcy Court and the checks are being made out to "Salvatore LaMonica, Esq., Chapter 7 Trustee"??????

about 4 hours ago
ignore this person
report abuse

This building is great for celebs. A huge circular driveway and at least 4 security guards 24x7 outside

I live at One Beacon Court, and the celebrities are terrible and think they're above the law. Beyonce always had her Maybach and her fleet of SUVs parked out front in the motorcourt(all day) and we complained to the management several times before something had to be done.

you know, at first, I dont think these random high end auctions will have the extreme devaluing effect that everyone thinks. As time goes on yes, but I dont think sellers will all of a sudden drop prices or aggresively start to hit uber low bids. If anything, it will likely cause most buyers to just wait & see. Just a gut feeling.

lexington.. do what I do... buy yourself a mayback and some suvs get some drivers and park your entourage vehicles in the circular first, oh hell keep me there all nite... that's how we do it... Big Pimpin stylez....

Celebs needs to know... nobody makes money likez us Hedgie guyz... them w/ their $50MM/yr... that's like my underwear bill for the mrs....

I remember a ways back when a guy in my office was showing Madonna around to buy something. I remember hearing him tell the story that they are in the elevator and it opens and someone tries to get on and one of her bodyguards holds out his hand and doesn't let the person on the elevator. I remember thinking if it were me (and I was a shareholder in that building), I would have thrown such a fit to everyone on te4h Board and in the building that she not only not ever be allowed to buy in the building, but never even be allowed back in to visit anyone.

I had thought some Fifth Avenue condo had exercised it's Right of First Refusal to prevent Richard Nixon from buying in, but Googling has only lead me to Coop Board rejections so i guess my memory isn't as good as it used to be. Most famous person I personally rejected was Sebastian Junger, but in general would advise most coops to reject most celebrities on general principles because of the extra resources the almost always seem to annex.

that would be 19 E 72nd, and it is a coop.

BTW, I would do the same. And, I would make sure the board reject Madonna.

Celebs needs to know... nobody makes money likez us Hedgie guyz... them w/ their $50MM/yr... that's like my underwear bill for the mrs....

She actually made $80M in 2009 (according to Fobres)

Beyonce*

Any other bankcruptcies for sale?

#42D has been seized by the FBI, per the 12/1/09 NYT and AP. The owner, who paid $5.95M in 2008, is accused of a $1B fraud scheme.

Fun kind of condo, huh?

I'm feeling nostalgic for 2005. Here're all the sales to date in the 2/2.5 D-line:

2007-05 35D $3,650,000 +80%
2005-03 35D $2,025,000

2005-03 36D $1,950,000

2005-07 37D $3,050,000 +54%
2005-04 37D $1,975,000

2005-05 38D $2,000,000

2005-07 39D $3,025,000 +55%
2005-04 39D $1,950,000

2005-08 40D $3,075,000 +50%
2005-04 40D $2,050,000

2005-07 41D $2,675,000

2008-06 42D $5,950,000 +105%
2005-04 42D $2,900,000

2005-06 43D $2,450,000

The percentages are useless, of course, as the huge ROI were what mattered.