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Upper East Side

Remaining Madoff Homes Already Discounted

Filed under: Real Estate Developments

Bernie Madoff's last home may have sold strong, but it looks like the momentum is fading. His home in the Hamptons beat the listing price and ultimately moved for more than $9.4 million. Unfortunately for his victims, interest in his Manhattan penthouse and Palm Beach estate isn't as strong. The prices for both have been cut, as the Ponzi schemer moves from news to history. Both homes have been on the market for only two months.

The Manhattan home, on the Upper East Side, offers 4,000 square feet which the broker, Sotheby's International Realty, says is "perched atop a distinguished white-glove prewar cooperative." Originally offered at $9.9 million, the asking price has been slashed by $1 million. So, if you're looking for some new digs in the city, this should be perched atop your list. A 10 percent price drop after only two months in the game means that you could probably work the price down a little bit further. If you were a Madoff investor, think of it as recouping some of what was so wrongly taken from you.


The situation in Palm Beach, Florida isn't much better. The discount is only 7 percent, with the price plunging from $8.49 million to $7.9 million according to the Corcoran Group, which is handling the sale. This home is billed as "a return to classic Florida island living ... when Palm Beach was a less manicured tropical paradise." What does that mean? Does classical Florida island living have anything to do with defrauding the neighbors?

Madoff, now a resident of Butner, North Carolina, believed that the Manhattan apartment was worth only $7 million. He pegged the Palm Beach residence at $11 million.

When both properties move, the proceeds will go to Madoff's victims. Of the $65 million, roughly, that he took, $1.4 billion is said to have been recovered. Even when compared to the investor losses identified, $21.2 billion, it's but a drop in the bucket. The auction scheduled for Saturday may help a little bit, with Bernie's Mets jacket and Ruth's golf clubs going under the gavel.


Blue Bloods Meets Burlesque at Book Bash

Filed under: Events, Books, Wealth


There are those who think all rich people are bloodsuckers. The ones in author Melissa de la Cruz's Blue Bloods books certainly are. The bestselling series centers on a secret society of socialites within New York City's most elite families, whose ancestors sailed on the Mayflower - and who happen to be vampires living in luxury on the Upper East Side. De la Cruz (right) celebrated the publication of the fourth installment in the series, The Van Alen Legacy, due to be released today, with a book bash at Meet at the Apartment in Soho the other night. Sexy burlesque star Veronica Varlow (left), who has been featured on MTV and hailed as the next Dita Von Teese, performed a vampire-themed routine at the event, as guests sipped cocktails, enjoyed hors d'oeuvres and indulged in mini-cupcakes from Crumbs Bake Shop. The Blue Bloods series, which has over a million copies in print, has topped the New York Times, USA Today and Publishers Weekly bestseller lists.

Madonna Buys $40 Million Mansion in NYC

Filed under: Estates


Madonna has signed a contract to buy a four-story brick townhouse on East 81st Street in NYC for about $40 million, sources tell the New York Post. Reminiscent of a London townhouse, the 12,000-sq.-ft., 26-room classic Georgian residence (above) is notable for its extraordinary 57-foot width, making it one of the widest houses on the Upper East side. It features 13 bedrooms, 14 baths, a 3000-sq.ft. garden bordered by tall trees, rhododendron bushes and roses, and has a double-car garage, another Upper East Side rarity.

The historic mansion features a 38' x 22' drawing room with tall south windows overlooking the garden, a paneled dining room off the garden terrace, an intimate library, 11' ceilings, 9 fireplaces, a Georgian staircase, an elevator, a wine cellar with a grotto, and space for a rooftop garden. A portion of the townhouse, which currently functions as separate living quarters with its own entry, can be combined with the main residence and probably will be.

Madonna plans major renovations including significant security upgrades. "The townhouse is perfect for Madonna," a source tells the paper. "She's trying to recreate London in New York City, and this is in the style of a London townhouse." Meanwhile, the pop star is said to be searching for an English country house-style estate in the horse country of the East End of Long Island or Westchester, north of the city. As we reported recently, she has also been renting a mansion in Palm Beach.

The Upper East Side's Latest Luxury Development

Filed under: Real Estate Developments


New York's Core Development Group previewed Lux 74, its newest high-end development the other night. The "Full Service Luxury Residence" at 429 East 74th Street will be ready for occupancy this summer; there are only 12 units in the building, ranging from studios to five bedrooms, priced at $685,000 to $8.2 million. With a focus on modern design, the fully-finished units feature Viking, Sub-Zero and Miele appliances, hand mitered Giallo Elena limestone counter tops, Italian Stone and mosaic accents, walnut paneling, Lava stone clad fireplaces, thermostatically controlled radiant floor heating in all bathrooms, oversized air jet bath tubs, three fixture laundry rooms, and Panasonic plasma TVs and Bose hi-def surround sound A/V systems. Many also include private outdoor space, and the building boasts a 24-hour concierge to cater to residents' every whim. See the gallery for more.

Gallery: Lux 74

The exterior.Front entrance.Living room.Bedroom.Bathroom.

Upper East Side Carriage House, Estate of the Day

Filed under: Estates


This Upper East Side carriage house is a skinny slice of NY life in seven pieces. The lower level is a separate suite with a bedroom, kitchen, bath, gym, storage, etc. The second level is the first floor that is open space which is currently an art gallery/three car garage, the next level has the family room and a bedroom suite, the level after that, the fourth, is the main family living space with the living room, dining room and kitchen. The fifth level includes two additional bedroom suites and the sixth level includes another bedroom suite with a fireplace and dressing room and the seventh level is the roof terrace. It sounds like life here would involve a lot of stair action but there is also an elevator. The home is currently filled with art that has displayed in every room of the house even the kitchen and bathroom. The vertical life will cost you $22.5 million.

Prewar Coop, Estate of the Day

Filed under: Estates


I've come to think of September 11 as New York City appreciation day, a time to honor the sorrow and the past but also to celebrate the unique spirit of the city. Today's home, a prewar coop on the Upper East Side embraces both the grandeur and the spirit of this unique city. The home has a grand living room with 18th Century lightwood paneling and a French marble fireplace framed by two bookcases and a view overlooking 72nd Street. The dining room also has a fireplace and the library is lined with bookcases of red laquered wood paneling. The slim kitchen is equipped with a professional Viking stove and Traulsen refrigerator. There are four bedrooms total including a corner master bedroom overlooking James Church. The design scheme is whimsical in places and perhaps a bit fabric-centric but that's one of the things that is most endearing about New York City, it delights in eccentricity. This home is listed at $8.25 million. Pics after the jump or supersized in the gallery.

Gallery: Prewar Coop

Woolworth Mansion, Estate of the Day

Filed under: Estates



The department store F.W. Woolworth built some pretty impressive homes in the early 1900s. While his own home, the beautiful Winfield Hall in Glen Cove, New York, has fallen on hard times, the home he built for his daughter Edna on the Upper East Side has fared better. This 14-room residence is in a 25' x 94' townhouse designed by C.P.H. Gilbert.The home is in mint condition and has five bedrooms, a formal dining room and a dark and sumptuous paneled library. It is listed at $23.45 million. After the jump, be sure to look up while eating in the dining room.

John Duncan Townhouse, Estate of the Day

Filed under: Estates


Our estate of the day has a fireplace so large that unless you are Shaquille O'Neal, you will feel tiny. The home is a Beaux Arts limestone townhouse on the Upper East Side of Mnahattan. The townhouse was created by John Duncan, the designer of Grant's Tomb. The home was built in 1902 and has nearly 15,000 square feet of space on six levels. Things to love about this home include the fireplaces, a large wrought iron staircase, ornate moldings and endless echoing marble. There are 17 foot ceilings in some areas and a living room you could throw one hell of a party in. The dining room overlooks public gardens and has floor-to-ceiling windows. It is listed at $31 million. After the jump, is that a tree in the library?


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