UpperEastSide

Has Bernie Madoff's NYC Apartment Finally Sold?

Filed under: Estates, Celebrity Shopping, Crimes and Misdemeanors

Could another of Bernie Madoff's properties finally be heading for sale? The Real Deal reports that Madoff's former penthouse at 133 East 64th Street on New York City's Upper East Side may have found a buyer. Brokers have been told there is an accepted offer on the property. It is currently listed $8.9 million and the listing at Sotheby's still shows up as active. The Real Deal quotes a spokesperson for the US Marshals Service who says that the property is still being shown and that no firm deal has been reached yet. Madoff's Montauk home sold last year for $9.4 million. His Palm Beach, Florida home remains on the market, listed at $7.9 million.

Gallery: Bernie Madoff In New York City

Tags: bernie madoff, BernieMadoff, new york city, NewYorkCity, upper east side, UpperEastSide

Remaining Madoff Homes Already Discounted

by Tom Johansmeyer (RSS feed) —

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.

Gallery: Bernie Madoff In New York City

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Tags: bernard madoff, BernardMadoff, bernie madoff, BernieMadoff, butner, florida, hamptons, hamptons real estate, HamptonsRealEstate, madoff, madoffponzischeme, madoffscandal, manhattan, manhattan real estate, ManhattanRealEstate, new york, new york new york, NewYork, NewYorkNewYork, north carolina, NorthCarolina, palm beach, PalmBeach, ponzi scheme, PonziScheme, real estate, RealEstate, sothebys international realty, SothebysInternationalRealty, upper east side, upper east side apartment, UpperEastSide, UpperEastSideApartment

Blue Bloods Meets Burlesque at Book Bash

by Jared Paul Stern (RSS feed) —

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.

Tags: burlesque, Crumbs Bake Shop, CrumbsBakeShop, Melissa de la Cruz, MelissaDeLaCruz, New York, NewYork, party, Upper East Side, UpperEastSide, vampires, Veronica Varlow, VeronicaVarlow

Madonna Buys $40 Million Mansion in NYC

by Jared Paul Stern (RSS feed) —

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.

Gallery: Madonna's New Mansion

Tags: celebrity, Madonna, Manhattan, mansion, New York City, NewYorkCity, townhouse, Upper East Side, UpperEastSide

The Upper East Side's Latest Luxury Development

by Jared Paul Stern (RSS feed) —

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