7/2/09

Is Cuomo Preparing to Seize J. Ezra Merkin's 740 Park Avenue Duplex?

A blogger - The Real Estalker (and we know how unreliable those sources are) - speculates on the fate of J. Ezra Merkin's homestead in light of the most recent news wherein the court threw the entire twenty volume Talmud at Bernard Madoff, about whom as they might say in Yiddish, bis hundert fuftsik, may Bernie live to serve out his entire 150 year sentence.

The rude blogger does not bid adequate respect to Atlantic Beach, where our family has roots going back six decades. Here is the bridge that gets you to the classy township, followed by the blogger's uninformed ramblings.

The NY Post recently reported that in addition to liquidating his artworks, Mister and Missus Merkin are "laying the groundwork" for selling their dee-luxe doo-plex digs at 740 Park Avenue.

...it seems crystal clear that Mister and Missus Merkin will be compelled to sell their 740 Park doo-plex along with whatever other hoity-toity assets Andy Cuomo says must be sold. What remains to be seen is when, for how much, and who will buy such a monstrous crib with a reported $15,000+ per month maintenance at a time when there are fewer and fewer buyers for such massive and massively priced apartments.

Records show that Mister and Missus Merkin also own a property in near Aspen, CO and a waterfront house on Bay Boulevard in Atlantic Beach that is surprisingly modest for a couple who shack up in one of the most expensive and exclusive buildings in Manhattan.

In other real estate related Madoff news...yesterday Bernie's wife Ruth was officially booted from her East 63rd Street penthouse perch. The U.S. Marshall notified Ruthie of the seizure and she was expected to be "leaving the residence and surrendering all personal property." ...The couple's other properties–in Palm Beach, Montauk and the South of France–were already seized leaving Ruthie with no where to go unless one of her sons or remaining friends takes her in.

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