This marble-floored duplex in the Upper East Side's The Seville was purchased in 2005 for $6.2 million by former MortgageIT CEO Doug Naidus. That was a year before the company was acquired by Deutsche Bank, and a few years before Deutsche Bank would be sued by the Department of Justice for MortgageIT's misrepresenting the quality of more than $5 billion government mortgages, filing false claims on more than $1 billion worth of government mortgages, and defrauding U.S. taxpayers. They were forced to hand over $202 million. But on the bright side, Naidus ended up with this very fancy apartment, which he would now like to sell for $11.25 million. He previously put the 4,254-square-foot 6BR/4.5BA on the market in 2008 for $10.95 million and allowed the price to be chopped down to $7.9 million before pulling the listing. The $8,410 in monthly costs aren't going to make this one an easy sell.
· Listing: 300 East 77th Street #27B [Corcoran]
· U.S. Sues MortgageIt, Deutsche Bank [Future of Capitalism]
· The Seville coverage [Curbed]
Loading comments...