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
- Eagles, Reid agree to extension 8:30 a.m.
- Stocks dip at open 8:22 a.m.
- Police, protesters gear up for Obama 7:57 a.m.
- Delta sees brighter revenue ahead 7:51 a.m.
- Iraqi man, lucky dog reunite 7:47 a.m.
- Attack may have killed civilians 7:46 a.m.
- EPA chief on U.S. regulating CO2 7:34 a.m.
- L.A. to vote on pot ordinance 7:29 a.m.
- Storm pounds Midwest, New England 7:24 a.m.
- Congress mulls college playoffs 7:21 a.m.
- Snow brings big chill
- Andersen apologizes for Jordan hoax
- BYU football: Bronco weighs in on Hall
- Yet again, we learn BCS is a big joke
- Expert calls Mitchell delusional
- Cougars in better mood about bowl
- Ranking the bowl games
- Five players miss Jazz practice
- $2M error could mean layoffs
- Williams' late jumper tops Spurs
- Y. profs: Beck not all-knowing
278 - Letters: Global warming a lie
218 - TCU to play Boise in Fiesta Bowl
205 - BYU football: Bronco weighs in on Hall
168 - Cougars going back to Vegas
148 - Utah/BYU rivalry can be more civil
143 - George lost in rivalry hatefest
119 - Andersen apologizes for Jordan hoax
113 - Ed Smart 'appalled' at testimony
99 - Revive full food tax?
94
Pittsburgh Post-Gazette writer Joyce Gannon offers the following advice...
Great. So the reason BYU will be just as good next year is... 1)They have...
I think the Jazz blew this weeks games in weeks past by not giving the 2 big...
Two things: 1)Trying to figure out if SEC Home 7:17am really belives the...
Yes, but everyone is missing the point. Liahona will suffer because of their...
Health insurance is not nor has it ever been a right. If the problem is high...
TRAITOR! I guess his tenure here was just another job. And just when you...
Funny how the Citibank ad pops up right in the middle of the article. Great...
I love the app (if only it would work on text messaging for those who dont...
There was definitley some improvement and I'm eager to follow the recruiting...
This isn't about global temperatures. This is about wealth transfer. By the...



You can be the first to comment on this story.