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Trouble In Paradise

Discussion in 'Real Estate & Other Investments' started by searcher, May 31, 2017.



  1. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Trouble in paradise? First foreclosure on New York's Billionaires' Row in skyscraper where penthouse sold for $100million
    • Apartment on 57th floor of One57 building will appear in foreclosure auction
    • Property was bought by LLC Central Park Immobilier for $21.4m in 2015
    • It has been on the market for $22.5m for a year and a half, but failed to sell


    Read more: http://www.dailymail.co.uk/news/article-4557852/First-foreclosure-New-York-s-billionaire-s-row.html#ixzz4iflc0XAZ
    Follow us: @MailOnline on Twitter | DailyMail on Facebook
     
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  2. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Billionaire's Row is rocked with its second foreclosure in a month: $51million luxury Manhattan penthouse goes up for auction after owner defaults on the mortgage
    • A full-floor penthouse apartment in One57 on Billionaire's Row went into foreclosure
    • It is the second foreclosure in the ultra-luxurious building in one month
    • The unknown owner didn't pay back a $35million mortgage and the bank seized the apartment with its sweeping Central Park views


    Read more: http://www.dailymail.co.uk/news/article-4636636/51million-luxury-Manhattan-penthouse-goes-auction.html#ixzz4l1BvZ15C
    Follow us: @MailOnline on Twitter | DailyMail on Facebook
     
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  3. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Identity of 'mystery man' who foreclosed $50.9M Billionaires' Row penthouse is revealed: Nigerian businessman is believed to be hiding out on same yacht he rented to Jay Z and Beyoncé for $900,000 a week
    • Nigerian energy businessman Kolawole 'Kola' Aluko, 48, was the owner of Apartment 79, which his bank foreclosed
    • Aluko is friends with stars including Jay Z, Beyoncé, Jamie Foxx and Leonardo DiCaprio
    • He has not been seen for some time, prompting rumors that suggest he could be hiding out on his yacht, Galactica Star
    • Another apartment in the One57 building in New York City has gone into foreclosure
    • A mystery buyer paid $50.9million for apartment 79, a full-floor penthouse, in December 2014
    • In September 2015, the buyer took out a $35.5million mortgage from a Luxembourg bank
    • The bank took possession of the house when the owner failed to pay back the loan a year later
    • Last month, another apartment in the same building on Billionaire's Row was scheduled for a foreclosure auction


    Read more: http://www.dailymail.co.uk/news/article-4642282/Kolawole-Aluko-foreclosed-Billionaires-Row-penthouse.html#ixzz4lCU2gl00
    Follow us: @MailOnline on Twitter | DailyMail on Facebook
     
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  4. Usury

    Usury Platinum Bling Platinum Bling

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    This is so stupid. Sounds like they put half down or around $25mil. Who would be so damn foolish to finance ANYTHING with those kind of assets? SMH
     
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    EXCLUSIVE: Playing cat and mouse? 'Catwoman' Jocelyn Wildenstein is accused of dodging foreclosure summons for months after defaulting on her $4.5 million mortgage on her lavish Trump World Tower apartment
    • Jocelyn Wildenstein, 72, defaulted on a $4.5M mortgage she took out ten years ago on a eight-bedroom, six-bathroom residence at Trump World Tower
    • Court documents obtained by DailyMail.com reveal reps for Modern Bank have been attempting to serve her court summons since February
    • Concierge and security staff at the glitzy high rise have also refused to help and threatened to call police on anyone who tries to drop off the paperwork
    • The bank's surveillance operatives have even resorted to staking out the premises but have failed to spot Wildenstein
    • In a separate legal action, DailyMail.com learned the Trump World Tower itself is also chasing her for $81,332 in unpaid common charges


    Read more: http://www.dailymail.co.uk/news/article-4862598/Jocelyn-Wildenstein-dodges-court-summons-foreclosure.html#ixzz4s1aNw9rN
    Follow us: @MailOnline on Twitter | DailyMail on Facebook
     
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  6. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    The Largest Residential Foreclosure Auction In NYC History Is Back On

    [​IMG]
    by Tyler Durden
    Oct 19, 2017 8:06 AM


    Back in June, we introduced you to Nigerian oil magnate, Kola Aluko, the mysterious (now former) owner of Unit 79, a penthouse in Manhattan’s ultra-luxury One57 tower, one of several buildings clustered around Central Park that comprise Manhattan's "Billionaire's Row."

    Aluko bought the 6,240-square-foot, full-floor penthouse in December 2014 for $50.9 million, concealing his identity with an LLC. At the time, it was the eighth-priciest in the building. But after taking out an unusually large ($35.3) mortgage with an even more unusual (one year) term the following September, Aluko defaulted, and his condo went into foreclosure - what will likely become the largest foreclosure sale in New York City history.

    The auction, originally scheduled for July, was delayed when a creditor claimed Aluko owed it about $83 million for gasoline and jet fuel. But on Wednesday, Mark McKew, the New York lawyer appointed to handle the sale, has announced that the auction is back on. The sale will proceed on Nov. 8, Bloomberg reported.

    [​IMG]
    One57

    Aluko, who has many celebrity friends including Beyonce and Jay Z. The couple once rented hist yacht for a brief vacation.

    But Aluko’s days of loaning out “the Galactica Star” (that’s the name of his 213-foot, $100 million yacht) are probably over, because he’s going to need it to flee from authorities in his home country, and around the world.

    [​IMG]
    Kola Aluko

    The one-time billionaire is wanted by authorities in Europe, Nigeria and the US for defrauding the Nigerian government by withholding oil profits and bribing corrupt Nigerian officials to secure lucrative oil contracts

    According to various reports, a Nigerian court tried to freeze Aluko’s assets, including his One57 unit, as part of the alleged scheme to defraud the government of oil sale profits.

    Foreclosure proceedings were started in January. The unit was put on the market for $39 million, according to Bloomberg, with a StreetEasy listing describing the owner as a “MOTIVATED SELLER!!!”

    And of course, that $39 million figure - like Trump’s push for a 15% corporate tax rate - is just an opening offer. Which is great news for for any wealthy real estate investors looking to buy at the market top.

    http://www.zerohedge.com/news/2017-10-18/largest-residential-foreclosure-auction-nyc-history-back
     
  7. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    I wish I had these kind of 1% problems.
     
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  8. the_shootist

    the_shootist The war is here on our doorstep! Midas Member Site Supporter ++

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    Damn Nigerians!
     
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  9. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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  10. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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