If you've seen (or lived in) a decrepit old building in the West Village or points south, chances are it's owned by the estate of William Gottlieb, whose real estate portfolio (estimated to be worth $1 billion or more) is now in the hands of his nephew, Neil Bender, following a nasty family feud. Bender shocked the world by putting two buildings on the market last summer?Gottlieb was known for property hoarding?and now one of those properties has sold, the Wall Street Journal reports. And it's a notorious one: 79 Horatio Street, which the Gottlieb estate had to buy back from the co-owner at auction.
The 10-unit West Village apartment building was listed for $8.5 million and sold for $7 million to a mystery buyer. Developers are licking their chops over Bender selling some more buildings in the vast portfolio, but his rep says the focus will now be on acquisitions, not sales. Then his ankle monitor started beeping and he was forced to return to the hidden cave where Gottlieb secrets go to die.
· Buy-and-Hold Empire Sells a Piece [WSJ]
· 79 Horatio Street coverage [Curbed]