Real Estate

Solid Bet: Former OTB Chairman Trades Park Avenue Co-op for $9.15M

David B. Cornstein is perhaps best known for his turnaround of Off Track Betting, which he revamped after being appointed chairman of the board by Rudy Giuliani. OTB, which Mr. Giuliani once called “the only bookie joint in the world that loses money,” turned substantially profitable after Mr. Cornstein approached its management in the manner of a private-sector captain of industry, rather than as a functionary looking for “a dumping ground for political patronage.”

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