The Real Deal New York

Former cosmetics exec, accused of fraud, lists 15 CPW spread for $27.75M

Piofrancesco Borghetti purchased unit for under $10M four years ago

July 12, 2012 11:00AM
By Katherine Clarke

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From left: Piofrancesco Borghetti, Paula Del Nunzio and the view from the unit on Central Park West

Piofrancesco Borghetti, the former CEO of Italian cosmetics firm Limoni, has listed his three-bedroom condominium at 15 Central Park West in the wake of allegations he was involved in an embezzlement and tax evasion scheme.

Borghetti, whom Italian authorities confirmed in June had been charged with several crimes, including embezzling 19 million euros from the company and making fraudulent bankruptcy claims, had not been arrested at the time of the announcement. Women’s Wear Daily reported that he was being sought out by Italy’s Financial Guard, the division of Italy’s army that is tasked with dealing with financial crimes.

The status of the legal case against Borghetti was not immediately clear, and the listing agent for the property, Paula Del Nunzio of Brown Harris Stevens, would not answer questions about the seller.

Borghetti’s 2,761-square-foot spread hit the market yesterday, according to Streeteasy.com and is asking $27.75 million. The unit has three bedrooms, a library, living room with 11-foot ceilings and views of Central Park. “The C line has a prefect east-west sightline, which results in totally unencumbered Central Park West views to the east and the setting sun to the west,” she said.

Borghetti bought the apartment for $9.88 million in 2008, public records show. It is one of just four units available in the Zeckendorf building. The available apartments range price from $26 million to $36 million. The cheapest, listed by Mercedes Berk, is owned by Canyon Capital Advisors founder Mitchell Julis.

The building has been home to celebrities such as Yankees slugger Alex Rodriguez and actor Denzel Washington.

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