Well, we can’t accuse Dolly Lenz of slacking off at her new job. The Manhattan super broker, simultaneously revered and loathed by her fellow brokers, left Douglas Elliman earlier this summer to start her own brokerage, and she’s just landed her first bold-faced listing: Bernie Madoff’s old penthouse.
Kids toy mogul Alfred Kahn and wife Patsy picked up the penthouse at 133 East 64th Street back in 2010 from the United States of America (so reads the deed), which seized the property from Mr. Madoff and his wife in order to compensate the victims of his Ponzi scheme. Back then they paid just $8 million for the co-op, which reportedly measures 4,000 square feet.
House of Shame
I’ve purchased a bike-share pass, but my bike does not move.
You have to pedal.
Where is the motor?
There is no motor. One of the goals of the bike-share program is to reduce noise and pollution.
Wouldn’t it create jobs if the bike-share program hired employees to pedal clients to their destinations?
You have to pedal yourself. There’s no way around it.
It has a 24-hour doorman and river views, but the real appeal of 377 Rector Place—a building that is about as bland as a luxury tower can be—lies in its name: Liberty House. Particularly if one is about to start a 10-year prison sentence.
The New York Post reports that Peter Madoff and wife Marion have moved into a $3,200-per month one-bedroom rental in the Battery Park City building. For someone who has agreed, as part of plea bargain, to the criminal forfeiture of $143.1 billion, including all real estate and personal property, a rental is definitely the way to go.
Prosecutors filed new charges against five employees of Bernard L. Madoff Investment Securities in documents filed today, alleging that the conspiracy to defraud investors in the firm dated to at least the early 1970s, and adding charges relating to corporate and personal loans and new tax offenses.
The superseding indictment adds new charges against Daniel Bonventre, who worked for Mr. Madoff for 40 years, eventually rising to the position of director of operations, as well as Annette Bongiorno and Joann Crupi, and brings charges against BLMIS computer programmers Jerome O’Hara and George Perez for the first time.
House of Shame
Rogue bank or rogue regulator? That was the subject of some debate yesterday, after New York’s top banking regulator, Ben “long-arm-of-the” Lawsky, filed an order alleging that Standard Chartered Bank had conducted $250 billion in off-limits business with Iranian banks. According to The New York Times, the Department of Justice, Federal Reserve and the Treasury, among other authorities, had been debating the extent of Standard Chartered’s wrongdoing. In April, Mr. Lawsky’s deputies told federal authorities that DFS planned to move forward with the case, but it wasn’t until Monday morning that the state agency alerted the Feds that it was about to file the explosive order.
one life to live
In the midst of running their elaborate Ponzi scheme, the Madoff family invested money in some actual investments—namely, real estate in Manhattan, Long Island and Greenwich.
The government came for Ruth and Bernie Madoff’s penthouse years ago, but the real estate holdings of the rest of the family have taken a little longer to claim, as the courts untangle the many complications of recovering cash stolen by the clan.
At least by this math: Prosecutors recommended a 230-year sentence for convicted financial fraudster Allen Stanford; Mr. Stanford argued that he had not, ahem, operated a Ponzi scheme* but “a real brick-and-mortar global financial empire,” and asked for time served, or about 3 years. So you know, 230 plus 3, divided Read More
Mornings With George
Blanked: About 14 percent of investment bankers received no bonus last year, more than double the number in 2010, according to a report from the executive-search firm Options Group. Top earners saw more of their compensation deferred, with about 80 percent of total comp pushed back for bankers paid $3 million or more, compared with Read More
Mike Bloomberg snagged a prime early-bird spot on Good Morning America today to tout the latest initiative of Mayor’s Against Illegal Guns: a truck that will tour the country advertising a running total of gun-related deaths.
Host George Stephanopoulos also took the time to ask the mayor what he thought of Bernie Madoff’s Read More
The Lipstick Building’s problems are hardly cosmetic. The building pushes toward the sky in perfect oval layers, but beneath the smooth facade, the building has been smeared by bankruptcy and its association with the Madoff scandal.
Now it has new owners, who are hopeful that a $15 million touch-up will be enough to Read More