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Tag: homes

Feds Could Cash in On Russian Spies By Auctioning Property Left Behind

auctionBy Allan Lengel
ticklethewire.com

The feds stand to gain some serious cash from the 10 Russian spies who were quickly deported last week.

The New York Daily News reports that the feds could try to auction off the property left behind including homes that still have clothes hanging in the closets.

“The crowds at these auctions can almost double [regular auctions],” Robert Olson, owner of auction house Erkelens and Olson in Salt Lake City which has handled a number of high-profile U.S. Marshals auctions told the Daily News. “I guess they want to see what those people in actuality owned, and how they lived.”

The paper reported that the homes left behind include a $530,800 one in Montclair, N.J., and a $447,059 one in Yonkers.

To read more click here.

Sales Price of Madoff’s Homes Dropping

Bernie Madoff

Bernie Madoff

By Allan Lengel
ticklethewire.com

Let’s just hope Bernie Madoff’s ego isn’t bruised knowing that people aren’t immediately snapping up his swanky properties in Manhattan and Palm Beach, Fla.

Reuters news service reports that the government has had to lower the asking price, the result of a a soft market.

“Madoff’s 4,000-square-foot duplex Manhattan penthouse, ‘perched atop a distinguished white-glove prewar cooperative’ according to the broker Sotheby’s International Realty, is now being offered for $8.9 million, 10 percent below its initial $9.9 million asking price,” Reuters reported.

The price of the 8,750-square-foot Palm Beach home was slashed 7 percent to $7.9 million, the news agency reported. The proceeds will go to help pay back some of the folks Madoff ripped off.