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Intriguing sale

Started by cliff702
about 16 years ago
Posts: 182
Member since: Apr 2007
Discussion about
Any speculation about this $10 sale? The sellers? The buyers? http://streeteasy.com/nyc/closing/1706757?email=true (We just signed a two year lease, so now I can spend my Streeteasy time looking at stuff like this instead of real estate for me.)
Response by NWT
about 16 years ago
Posts: 6643
Member since: Sep 2008

The actual sale was for $6,700,000: http://streeteasy.com/nyc/closing/1706758

A James Nicholson bought the place for $8,500,000 in 2008. He was later charged with and pled to securities fraud, and the U.S. gov't took the condo as part of the deal.

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Response by NWT
about 16 years ago
Posts: 6643
Member since: Sep 2008

Oh, and there's a lien of common charges, but can't tell whether those're paid from the sale proceeds or the buyer has to come up with them.

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Response by cliff702
about 16 years ago
Posts: 182
Member since: Apr 2007

NWT, thank you for the interesting report.

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Response by inonada
about 16 years ago
Posts: 8085
Member since: Oct 2008

More details:

http://therealdeal.com/newyork/articles/former-time-warner-pad-at-25-columbus-circle-of-ponzi-schemer-james-nicholson-of-westgate-capital-sells-for-6-75m

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