Wilpons’ real estate empire in spotlight

TRD New York /
Sep.September 13, 2010 10:30 AM

Scrutiny increases with Madoff losses and Mets woes

From the September issue: In the four years since Mets slugger Carlos Beltran struck out with the bases loaded in the now-infamous Game 6 of the National League Championship, fans across the city have waited for the Mets ownership to shake up the roster and return the team to the glory of its famed 1986 season. The team — led by real estate magnate Fred Wilpon and his son Jeff — has faced questions from fans over whether the family will turn around a franchise that many believe has been unraveling for four straight years now. However, the key to those answers may not lie on the baseball diamond, but in the executive suite of Sterling Equities, the Wilpons’ real estate empire, which has long operated in the shadows of their prized Major League Baseball team. Like many of the nation’s largest real estate investors, the Wilpons are fighting an uphill battle against a persistent credit crisis. To compound matters, they are also dealing with the fallout of the Bernie Madoff scandal. [more]

 

Related Articles

arrow_forward_ios

How do brokers get listings from the Department of Justice?

Westchester & Fairfield Cheat Sheet: Office vacancy rates fall in Fairfield, Robert Redford’s retail brand sets up shop in Westport … & more

The lawyer behind the massive Madoff settlement just bought an $8M co-op

Former New York Post publisher’s penthouse hits the market

How Bernie Madoff’s properties have fared since being sold off 10 years ago

Daughters of late Madoff associate sell UWS co-op for $13M

The Mets are selling shares again following grim report on Citi Field revenues

Steve Roth’s Montauk beach house is hitting the market

arrow_forward_ios