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	<title>Observer &#187; Top Brokers Cattle-Called for Madoff</title>
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		<title>Observer &#187; Top Brokers Cattle-Called for Madoff</title>
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		<title>Top Brokers Cattle-Called for Madoff</title>

		<comments>http://observer.com/2009/07/top-brokers-cattlecalled-for-madoff/#comments</comments>
		<pubDate>Tue, 28 Jul 2009 22:56:46 -0400</pubDate>
					<link>http://observer.com/2009/07/top-brokers-cattlecalled-for-madoff/</link>
			<dc:creator>Max Abelson</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/madoffbuilding.jpg?w=300&h=199" />When brokers from the most posh Manhattan brokerages filed into a penthouse at <strong>133 East 64th Street</strong> for a secret meeting earlier this month, the fact that the place had been seized two weeks earlier by U.S. marshals from contemporary America&rsquo;s greatest financial villain was not the only thing on their minds.</p>
<p>What must have really bothered the brokers, this small batch in the running to have the odd honor of listing <strong>Bernie Madoff</strong>&rsquo;s two-floor apartment between Park and Lexington avenues, is that they were all corralled together. &ldquo;It was a strange and, frankly, slightly insulting way to handle it,&rdquo; one broker there said. &ldquo;Everyone in that room has pitched pretty important exclusives. I&rsquo;ve never had to go on a cattle call before.&rdquo;</p>
<p>Last year, when agents auditioned to list the late Brooke Astor&rsquo;s Park Avenue duplex, they were interviewed separately in her famously lacquered library. It went relatively smoothly&mdash;even though they had to smile and nod while sitting in front of her scandal-stained son, Anthony Marshall, plus bankers from the firm that became Astor&rsquo;s court-appointed guardians.</p>
<p>The broker meeting for the Madoff penthouse, which has been rumored to be going on the market since January, was stranger. &ldquo;Everybody kind of wandered around the apartment, and they herded us into the living room,&rdquo; another broker said. &ldquo;I just don&rsquo;t see how they can make an evaluation on who to use.&rdquo;</p>
<p>There are a lot of options. According to three sources, brokers that have been contacted include <strong>Corcoran</strong>&rsquo;s <strong>Sharon Baum</strong> (famous for her SOLD 1 license plate and its matching diamond brooch); <strong>John B. Glass</strong> and <strong>Caroline E.Y. Guthrie</strong> from the blue-blooded Edward Lee Cave division at <strong>Brown Harris Stevens</strong>; <strong>Stribling</strong>&rsquo;s <strong>Alexa Lambert</strong>, who has handled sales at the Plaza; <strong>Sotheby</strong>&rsquo;s top broker, <strong>Serena Boardman</strong>, and vice president <strong>Anne Corey</strong>; and <strong>Elliman</strong>&rsquo;s <strong>Daniela Kunen</strong> and <strong>Sabrina Saltiel</strong>, who are listing the incarcerated Phillip Bennett&rsquo;s Park Avenue duplex penthouse, plus a lesser-known colleague, <strong>Whitney Gettinger</strong>.</p>
<p>They came armed! Ms. Baum had Corcoran CEO<strong> Pamela Liebman</strong> with her; Ms. Lambert had her firm&rsquo;s founder, <strong>Elizabeth Stribling</strong>; and Elliman CEO <strong>Dottie Herman </strong>was there along with the head of the firm&rsquo;s Manhattan brokerage, <strong>Steven James</strong>. John Burger, the Brown Harris broker who told <em>The Times</em> this month that he&rsquo;d offered to forgo a commission, was not there.</p>
<p>As it turned out, the meeting with the federal marshals was more of a group info session than an audition. &ldquo;What they said was, &lsquo;I wish we could give it to all of you,&rsquo;&rdquo; Mr. James explained. &ldquo;&lsquo;Look and see what the product is; advise us on what we should do; here&rsquo;s the deadline for the proposal, and may the best person win.&rsquo;&rdquo;</p>
<p>By the end of last week, brokers sent in their proposals for how they would market the place, how much they would list it for (their pitch can&rsquo;t be too discouragingly low nor too misleadingly high) and what kind of commission they&rsquo;d demand (which, as Mr. Burger&rsquo;s offer showed, will probably be modest).</p>
<p>One of the agents there guessed that the penthouse is worth $8 million, but will sell for less because of its ignominy&mdash;and its condition, which, despite Mr. Madoff&rsquo;s reputation for punctiliousness, is imperfect. &ldquo;<em>So </em>not triple-mint,&rdquo; an agent said. &ldquo;That to me was incredibly surprising.&rdquo;</p>
<p>&ldquo;I thought it was eerie,&rdquo; another said. &ldquo;The place was left as if someone got out in the middle of the night. All the clothes were there, there was a note, there was a cup of coffee on, I think, his desk. The only that was gone were the photos: the picture frames had no pictures.&rdquo;</p>
<p><em>mabelson@observer.com</em></p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/madoffbuilding.jpg?w=300&h=199" />When brokers from the most posh Manhattan brokerages filed into a penthouse at <strong>133 East 64th Street</strong> for a secret meeting earlier this month, the fact that the place had been seized two weeks earlier by U.S. marshals from contemporary America&rsquo;s greatest financial villain was not the only thing on their minds.</p>
<p>What must have really bothered the brokers, this small batch in the running to have the odd honor of listing <strong>Bernie Madoff</strong>&rsquo;s two-floor apartment between Park and Lexington avenues, is that they were all corralled together. &ldquo;It was a strange and, frankly, slightly insulting way to handle it,&rdquo; one broker there said. &ldquo;Everyone in that room has pitched pretty important exclusives. I&rsquo;ve never had to go on a cattle call before.&rdquo;</p>
<p>Last year, when agents auditioned to list the late Brooke Astor&rsquo;s Park Avenue duplex, they were interviewed separately in her famously lacquered library. It went relatively smoothly&mdash;even though they had to smile and nod while sitting in front of her scandal-stained son, Anthony Marshall, plus bankers from the firm that became Astor&rsquo;s court-appointed guardians.</p>
<p>The broker meeting for the Madoff penthouse, which has been rumored to be going on the market since January, was stranger. &ldquo;Everybody kind of wandered around the apartment, and they herded us into the living room,&rdquo; another broker said. &ldquo;I just don&rsquo;t see how they can make an evaluation on who to use.&rdquo;</p>
<p>There are a lot of options. According to three sources, brokers that have been contacted include <strong>Corcoran</strong>&rsquo;s <strong>Sharon Baum</strong> (famous for her SOLD 1 license plate and its matching diamond brooch); <strong>John B. Glass</strong> and <strong>Caroline E.Y. Guthrie</strong> from the blue-blooded Edward Lee Cave division at <strong>Brown Harris Stevens</strong>; <strong>Stribling</strong>&rsquo;s <strong>Alexa Lambert</strong>, who has handled sales at the Plaza; <strong>Sotheby</strong>&rsquo;s top broker, <strong>Serena Boardman</strong>, and vice president <strong>Anne Corey</strong>; and <strong>Elliman</strong>&rsquo;s <strong>Daniela Kunen</strong> and <strong>Sabrina Saltiel</strong>, who are listing the incarcerated Phillip Bennett&rsquo;s Park Avenue duplex penthouse, plus a lesser-known colleague, <strong>Whitney Gettinger</strong>.</p>
<p>They came armed! Ms. Baum had Corcoran CEO<strong> Pamela Liebman</strong> with her; Ms. Lambert had her firm&rsquo;s founder, <strong>Elizabeth Stribling</strong>; and Elliman CEO <strong>Dottie Herman </strong>was there along with the head of the firm&rsquo;s Manhattan brokerage, <strong>Steven James</strong>. John Burger, the Brown Harris broker who told <em>The Times</em> this month that he&rsquo;d offered to forgo a commission, was not there.</p>
<p>As it turned out, the meeting with the federal marshals was more of a group info session than an audition. &ldquo;What they said was, &lsquo;I wish we could give it to all of you,&rsquo;&rdquo; Mr. James explained. &ldquo;&lsquo;Look and see what the product is; advise us on what we should do; here&rsquo;s the deadline for the proposal, and may the best person win.&rsquo;&rdquo;</p>
<p>By the end of last week, brokers sent in their proposals for how they would market the place, how much they would list it for (their pitch can&rsquo;t be too discouragingly low nor too misleadingly high) and what kind of commission they&rsquo;d demand (which, as Mr. Burger&rsquo;s offer showed, will probably be modest).</p>
<p>One of the agents there guessed that the penthouse is worth $8 million, but will sell for less because of its ignominy&mdash;and its condition, which, despite Mr. Madoff&rsquo;s reputation for punctiliousness, is imperfect. &ldquo;<em>So </em>not triple-mint,&rdquo; an agent said. &ldquo;That to me was incredibly surprising.&rdquo;</p>
<p>&ldquo;I thought it was eerie,&rdquo; another said. &ldquo;The place was left as if someone got out in the middle of the night. All the clothes were there, there was a note, there was a cup of coffee on, I think, his desk. The only that was gone were the photos: the picture frames had no pictures.&rdquo;</p>
<p><em>mabelson@observer.com</em></p>
]]></content:encoded>
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