For lease: office with river views — and Madoff's stigma
- Page:
- < Previous
- 1
- 2
When the scandal broke, news crews and burned investors flocked to the 34-story skyscraper — shaped like an open lipstick tube — to measure the financial wreckage. They didn't get far: Madoff's firm had been sealed off from the public by an army of FBI agents, federal regulators and a trustee appointed to liquidate the business assets.
Since then, the trustee has sold one of Madoff's legitimate trading operations to a new broker-dealer firm that took over the 18th floor. A staircase connecting the 18th and 19th floors will be removed, Freeman said.
As for the 17th floor, trustee Irving Picard wrote in court papers that the FBI "has advised me that they will require access to the space until, at least, approximately July of 2010." It also wanted to continue using a leased Xerox copying machine there. The cost will be covered by an industry group that compensates victims of securities fraud.
Sharing the 17th floor in separate office space is a discount brokerage headed by Wall Street veteran Muriel Siebert, the first woman to buy a seat on the New York Stock Exchange in 1967 and the only tenant allowed a dog. Siebert had a sublet with Madoff and is now paying rent to the trustee.
What remains is the 16,182-square-foot 19th floor. A bankruptcy judge recently authorized the trustee to cancel the Madoff lease there through 2012 with landlord Metropolitan Real Estate Investors, creating the vacancy in a sagging commercial real estate market.
Freeman wouldn't say what Madoff paid in rent, adding that no price has been set for the floor. There have been some feelers, but no firm offers.
Any takers who don't remodel, he said, "will certainly have to like dark colors."
- Page:
- < Previous
- 1
- 2
Comments
- Kobe leading All-Star voting 9:08 p.m.
- Goldman execs to get stock bonus 9:08 p.m.
- House OKs plan to help auto dealers 9:07 p.m.
- 5 Americans questioned in Pakistan 9:06 p.m.
- A child with ties to terrorism 9:06 p.m.
- Kelly headed for Notre Dame 8:35 p.m.
- MLB notes 8:22 p.m.
- Speed skating tuneup Friday 8:19 p.m.
- BCS did TCU a favor? 8:16 p.m.
- Beadles earns Camp All-America Team 8:11 p.m.
- Nude bathers cited for lewdness
- Few details on missing W.V. mom
- Jazz fall apart late at L.A.
- Crash landing next to I-15
- Defense witness goes on offensive
- BCS = power conference monopoly
- Palin signs books, chats with fans
- I-15 expansion barreling south
- 5 officers lose their certification
- Y.'s Emery bruised, but rarely beaten
- Letters: Global warming a lie
256 - TCU to play Boise in Fiesta Bowl
206 - BYU football: Bronco weighs in on Hall
193 - Palin signs books, chats with fans
163 - Cougars going back to Vegas
150 - Utah/BYU rivalry can be more civil
149 - Andersen apologizes for Jordan hoax
142 - Max Hall wants to look ahead
124 - Nude bathers cited for lewdness
118 - Jazz fall apart late at L.A.
110
There was a time when free shipping was rare. This holiday season, you...
Love him or hate him, Utah Sen. Orrin Hatch knows how to get attention.
It's an interesting thought. Thanks.
Pitta you were well deserving. Probably could have received more attention...
I hope Greg Miller is able to do something to get fans excited to come to...
aksed Sarah about how she got her ideas for the chapters, etc.? yeah......
We'll learn alot about Donovan while he's on loan. Either way this is a good...
try actually reading "you failed to mention" and you may just realize how...
russians continue to prepare for war. that is the message I got.
To "Stalwart Sentinel | 5:48 p.m." just say it. Just say "I don't care about...
Dennis, you're tops in my book. I hope you and Unga stay for next year's...
Cincy coach msut be good. But don't yah think it sets the wrong precedent...



You can be the first to comment on this story.