Selling real estate to diplomats is a good business on the East Side. With their tax exemptions, missions and embassies can afford to buy much larger spaces than they could ever rent. If, that is, you’re willing to put up with the bureaucracy and layers of red tape that come with selling property to sovereign nations.
Rusty Thrasher, who runs a small brokerage specializing in Murray Hill apartments, learned that the hard way, when a deal to sell a 3,237-square-foot condo combo at Manhattan Place at 630 First Avenue to Bangladesh’s permanent representative to the United Nations A.K. Abdul Momen (“with concurrent accreditation to the Republic of Chile and the Republic of Peru,” because why not?) almost fell through.
Those email scammers sure are clever. Instead of continuing to make up foreign kings and dictators who have miraculously and mysteriously chosen you—yes, you!—for the riches they must now dispose of, they are using real, honest to god Americans, if slightly embellished, to attract patsies, err, investors.
Today, The Observer received one such email, with an offer to join “Mr. HARRY MACKLOWE, Biggest Land Owner of United State & Founder Chairman & Owner of Macklowe Properties” in an investment to establish a real estate investment in Bangladesh. Biggest Land Owner of United States? How could you say no! Still, something tells us Mr. Macklowe is plenty busy here at home, but in case you have a spare $2 million, we’ve included the details below.
Wit and wisdom from real estate developers who are following in their fathers’ (or grandfathers’) footsteps, from today’s Real Estate Board of New York luncheon:
Richard LeFrak: “If you read about all the problems that Ratner has had in Brooklyn, when they should be rolling out a red carpet for him considering what Read More