“Outrage” over Niger’s $25M UES pad

New York /
Jan.January 31, 2011 09:36 AM

One of the world’s poorest nations owns one of the city’s most valuable single-family homes. According to the Post, the Republic of Niger’s landmark Upper East Side mansion is worth an estimated $25 million. The country, which paid $600,000 for the 5 East 80th Street townhouse in 1977, hasn’t paid taxes on it since June 2009, when the State Department issued a property tax exemption for foreign missions to the U.S. (the city is fighting the decision, and says Niger owes it nearly $250,000). In the meantime, Niger has been turning a profit by renting the house out to wealthy tenants like Imelda Marcos, the former first lady of the Philippines who lived there during the 1990s, and developer Aby Rosen, who signed a long-term lease in 2003. Nonetheless, the Post opines that it is an “outrage” that “Niger citizens have nothing, but its rulers see fit to hold this pricey piece of Manhattan real estate.” [Post]


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