Pamela Wallin, a member of the Senate in Canada (yes, Canada), listed her 500-square-foot studio apartment in Lenox Hill back in June for $349,000. That's $30K less than what she paid for it in 2005. In a market like this? No wonder it's already in contract. Yes, Wallin priced the unit to sell, and it probably has to do with the fact that she owes the Canadian government $100,600 in travel expenses that were discovered to be personal rather than for business. She has to pay up by September 16, and thus needed to make back some cash, and fast. It's also a co-op, which is harder to sell, but there's tons of storage, a roomy kitchen, and a walk-in shower plus a shared roof deck as an amenity. So try to seek out the next scandal-tainted foreign politician's pied-a-terre for good value in a crazy market.... eh?
· Listing: 118 East 60th Street #12D [Warburg via StreetEasy]
· The lowdown on Pamela Wallin's low condo price [Maclean's]
· Wallin strikes tentative deal to sell Manhattan condo [Globe and Mail]