By Joey ArakSo this is the lifestyle that $292 million in bank fraud fuels! Businessman and prominent Democratic donor Hassan Nemazee was living large in this 14-room duplex at 770 Park Avenue, one of the storied Rosario Candela-designed pre-war beauties that dot the Upper East Side’s Gold Coast. Until he confessed to ripping off major banks and was sentenced to 12 years in the slammer, that is. Now, as promised, Nemazee’s 14th- and 15th-floor duplex in the Georgian-style building has been put on the market by the feds in order to settle some of the fraudster’s debts.
The rumour was that the 4-6 bedroom spread (those family and sitting rooms are such multitaskers!) would top $25 million, and the Sotheby’s listing does indeed go for gold: The asking price is a whopping $28 million. The only other recent sale in the building that can compare is a $20 million deal back in 2007. Is the government asking too much from its citizenry? Surely world history provides no examples of such behaviour.
Nemazee might be small potatoes when compared to other Upper East Side scammers like Bernie Madoff, but the guy has expensive taste. If you recall, Madoff’s penthouse nine blocks south sold for $8 million, and it lacked both the Park Avenue address and multiple staff rooms that Nemazee’s behemoth boasts. The listing makes no mention of the apartment’s scandalous past, or how intense the co-op board will be about approving its next occupant (break out the polygraph!).
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.