Friday, June 12, 2009
Tuesday, June 9, 2009
UPDATE: Victoria Gotti
THURSDAY, JUNE 4, 2009
UPDATE: Victoria Gotti
Looks like ol' Victoria Gotti just might have pulled a real estate rabbit out of a hat having reportedly come to a tentative agreement to save her mawkish mansion in Old Westbury, NY from the jaws of foreclosure.
Back in mid-May of 2009 it was widely reported that the lavishly be-weaved blond was days away from losing her long time Long Island home because she was arrears to her lender to the tune of $650,000. As a result of the default a court of law ruled that JP Morgan Chase could foreclose on the 4+ acre estate where Miz Gotti and her three grunting and virtually inarticulate sons filmed their depressing and difficult to watch reality program Growing Up Gotti.
At the time, Miz Gotti gave the rather bizarre and far-fetched sounding explanation that her ex-huzband Carmine Agnello–who, incidentally, was fined $10,000,000 after pleading guilty to racketeering charges in 2001–was to blame because he took out a secret mortgage on her manse after fooling the bank into believing that Miz Gotti had granted him power of attorney to do so. Turns out her explanation was true...or at least true enough that the bank decided to give her the benefit of the doubt and work out some sort of agreement that would allow Miz Gotti and her Rapunzel worthy wig to stay in the mansion.
Sounds to me like someone at the bank has some splainin' to do. Either that or Mister Agnello may be looking at addition appearances in front of a judge who may not look kindly on his fraudulent mortgage activities as they relate to Miz Gotti's house of architectural horrors.
The children will recall that Miz Gotti has been trying to sell her real estate white for years with asking prices as high as $4,800,000 and as low as its latest asking price of $2,300,000. Your Mama isn't sure if the Miz Gotti's big house is still on the market, but we did find a possibly outdated listing that shows a wonky asking price of $2,959,000.
UPDATE: Victoria Gotti
Looks like ol' Victoria Gotti just might have pulled a real estate rabbit out of a hat having reportedly come to a tentative agreement to save her mawkish mansion in Old Westbury, NY from the jaws of foreclosure.
Back in mid-May of 2009 it was widely reported that the lavishly be-weaved blond was days away from losing her long time Long Island home because she was arrears to her lender to the tune of $650,000. As a result of the default a court of law ruled that JP Morgan Chase could foreclose on the 4+ acre estate where Miz Gotti and her three grunting and virtually inarticulate sons filmed their depressing and difficult to watch reality program Growing Up Gotti.
At the time, Miz Gotti gave the rather bizarre and far-fetched sounding explanation that her ex-huzband Carmine Agnello–who, incidentally, was fined $10,000,000 after pleading guilty to racketeering charges in 2001–was to blame because he took out a secret mortgage on her manse after fooling the bank into believing that Miz Gotti had granted him power of attorney to do so. Turns out her explanation was true...or at least true enough that the bank decided to give her the benefit of the doubt and work out some sort of agreement that would allow Miz Gotti and her Rapunzel worthy wig to stay in the mansion.
Sounds to me like someone at the bank has some splainin' to do. Either that or Mister Agnello may be looking at addition appearances in front of a judge who may not look kindly on his fraudulent mortgage activities as they relate to Miz Gotti's house of architectural horrors.
The children will recall that Miz Gotti has been trying to sell her real estate white for years with asking prices as high as $4,800,000 and as low as its latest asking price of $2,300,000. Your Mama isn't sure if the Miz Gotti's big house is still on the market, but we did find a possibly outdated listing that shows a wonky asking price of $2,959,000.
Sports site owned by Nicholas Cosmo fetches $3.4M
BY THOMAS MAIER
thomas.maier@newsday.com
8:53 PM EDT, June 4, 2009
A large indoor sports facility in Hauppauge, once owned by accused swindler Nicholas Cosmo, was sold Thursday for $3.4 million to a Commack-based company that plans to turn it into Long Island's latest soccer palace.
With bidders and curious onlookers standing on the field's green artificial turf, the bankruptcy court-approved auction started and ended with bids from Coastal Soccer Llc, owned by businessmen Tony Stein and Mark Newfield. They hope to open its doors to the public in the fall.
"We fell in love with it," Newfield said. Coastal Soccer had briefly used the indoor field for training until the collapse earlier this year of Cosmo's company, Agape World Inc.
Federal authorities said Agape World, once also based in Hauppauge, was a Ponzi-like scheme that defrauded hundreds of investors of $413 million. Cosmo, a Lake Grove resident, remains in a Nassau jail cell as his attorney and federal prosecutors negotiate a $1.25-million bail package.
Thursday's sale of the sports facility was part of the continuing effort by a U.S. Bankruptcy Court-appointed trustee Kenneth P. Silverman to sell assets and recover money spent by Cosmo's Agape firm.
Previous auctions sold off Agape's office furniture and equipment and a luxury car. Silverman estimated that several other former Agape investments in real estate, stock and other financial instruments - worth some $20 million on face value - remain to be sorted out and sold in the coming months.
Although there were some 300 inquiries about the sports facility, only a few bids were made at the auction, with Coastal's winning offer of $3.4 million accepted within minutes. The auctioneer, David R. Maltz & Co., had initially obtained a $3-million offer from Coastal before the auction. Those involved in the sale say the winning bid was close to the estimated $3.5 million that Cosmo had poured into the facility originally, including its purchase and many improvements. Stein and Newfield said they expect to make additional changes to the building to secure the needed town approval before opening to the public.
"It's a tremendous facility for soccer and indoor soccer leagues," said Silverman, who was pleased with the amount of the winning bid in a depressed real estate market. "They say this is one of the best soccer places on the Island."
thomas.maier@newsday.com
8:53 PM EDT, June 4, 2009
A large indoor sports facility in Hauppauge, once owned by accused swindler Nicholas Cosmo, was sold Thursday for $3.4 million to a Commack-based company that plans to turn it into Long Island's latest soccer palace.
With bidders and curious onlookers standing on the field's green artificial turf, the bankruptcy court-approved auction started and ended with bids from Coastal Soccer Llc, owned by businessmen Tony Stein and Mark Newfield. They hope to open its doors to the public in the fall.
"We fell in love with it," Newfield said. Coastal Soccer had briefly used the indoor field for training until the collapse earlier this year of Cosmo's company, Agape World Inc.
Federal authorities said Agape World, once also based in Hauppauge, was a Ponzi-like scheme that defrauded hundreds of investors of $413 million. Cosmo, a Lake Grove resident, remains in a Nassau jail cell as his attorney and federal prosecutors negotiate a $1.25-million bail package.
Thursday's sale of the sports facility was part of the continuing effort by a U.S. Bankruptcy Court-appointed trustee Kenneth P. Silverman to sell assets and recover money spent by Cosmo's Agape firm.
Previous auctions sold off Agape's office furniture and equipment and a luxury car. Silverman estimated that several other former Agape investments in real estate, stock and other financial instruments - worth some $20 million on face value - remain to be sorted out and sold in the coming months.
Although there were some 300 inquiries about the sports facility, only a few bids were made at the auction, with Coastal's winning offer of $3.4 million accepted within minutes. The auctioneer, David R. Maltz & Co., had initially obtained a $3-million offer from Coastal before the auction. Those involved in the sale say the winning bid was close to the estimated $3.5 million that Cosmo had poured into the facility originally, including its purchase and many improvements. Stein and Newfield said they expect to make additional changes to the building to secure the needed town approval before opening to the public.
"It's a tremendous facility for soccer and indoor soccer leagues," said Silverman, who was pleased with the amount of the winning bid in a depressed real estate market. "They say this is one of the best soccer places on the Island."
Friday, June 5, 2009
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