From left: Justin Timberlake, his new home in the Soho Mews, and his old building, the Pearline Soap Factory

Six months after vacating his Tribeca condominium unit for a Soho penthouse, musician and actor Justin Timberlake finally unloaded his former home, Curbed reported. The 3,000-square-foot full-floor apartment in the Pearline Soap Factory at 414 Washington Street near Vestry Street– which Timberlake purchased for $4.689 million in 2008 — was asking $4.995 million. Adam Modlin, head of the Modlin Group, had the listing, which originally asked $5.25 million. Timberlake now resides in the Charles Gwathmey-designed Soho Mews at 311 West Broadway near Canal Street, where he bought a unit for $6.57 million in December. [Curbed] Comments

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From the February issue: Nothing says progress like Madoff. Late last month, The Real Deal broke the story that the Ponzi schemer’s Upper East Side penthouse finally appears close to a sale.
Listing brokers Anne Corey and Serena Boardman of Sotheby’s
International Realty have told interested agents that there is an
accepted offer on the 133 East 64th Street duplex. At press time, the
U.S. Marshals Service, which seized the property from the disgraced
financier, said the listing had not yet entered contract.
The sale (if it does clear the many obstacles of today’s market) may not be unqualified good news.
The penthouse’s asking price is $8.9 million, following a November
price chop of $1 million. It’s also been sitting on the market since
September.  [more]

The Pearline Soap Factory model condo unit

A recent uptick in all-cash buyers helped the new Pearline Soap Factory condominium sell out after nearly two years on the market, the developer told The Real Deal. All eight units, including one commercial unit, at the boutique Tribeca project are sold and closed, according to Gerard Longo, a principal at Atlantic Walk, the developer of the Pearline and its neighbor, the Fairchild. The last Pearline unit, a penthouse, closed on New Year’s Eve for $5.9 million, or $1,685 per square foot, he said. Due in part to its small size, Pearline is one of the first new developments to announce a sell-out in the wake of 2008’s financial crisis. Because of strict presale requirements from Fannie Mae, small projects have a considerable advantage in the current climate. [more]

Gerard Longo is expanding his business to brownstone Brooklyn.

Marine Park-based residential brokerage Madison Estates and Properties
is expanding into brownstone Brooklyn and is planning a leap into
Manhattan. The 60-agent firm will open a new office in a renovated brownstone at
53 Douglass Street in Carroll Gardens by mid-June, according to Gerard
Longo, the firm’s president. The move doubles the number of company
offices from its lone location at 2922 Avenue R in Marine Park in the
southeastern section of Brooklyn. Longo said his aim is to take advantage of the down market to grow the name brand in the rest of Brooklyn. [more]