“Outrage” over Niger’s $25M UES pad

TRD 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]


Related Articles

arrow_forward_ios
Aby Rosen and Lever House at 390 Park Avenue (Credit: Getty Images, Google Maps)

Aby Rosen hands over Lever House to Tod Waterman and Brookfield

Aby Rosen hands over Lever House to Tod Waterman and Brookfield
Aby Rosen of RFR Realty and the Chrysler Building (Getty; iStock)

Aby Rosen is bringing back the Chrysler Building’s observation deck

Aby Rosen is bringing back the Chrysler Building’s observation deck
Beny Steinmetz and a rendering of The XI at 76 11th Avenue (JACK GUEZ/AFP via Getty Images; BIG)

Mining company asks court to reveal Beny Steinmetz’s NYC real estate plays

Mining company asks court to reveal Beny Steinmetz’s NYC real estate plays
Aby Rosen and the Chrysler Building (Credit: Lev Radin/Pacific Press/LightRocket via Getty Images)

Aby Rosen seeks to rework Chrysler Building ground lease

Aby Rosen seeks to rework Chrysler Building ground lease
RFR Realty’s Aby Rosen with 1600 Broadway and 900 Third Avenue (Credit: Getty Images, Google Maps)

Aby Rosen ditches $600M in building buys

Aby Rosen ditches $600M in building buys
The Chrysler Building and Aby Rosen (Credit: Rosen by Sean Zanni/Patrick McMullan via Getty Images)

Retail tenants disappearing from Chrysler Building

Retail tenants disappearing from Chrysler Building
RFR Realty's Aby Rosen, 900 Third Avenue, and Paramount's Albert behler (Credit: Getty Images, Google Maps)

Aby Rosen in talks to buy Paramount’s East Side tower for $400M

Aby Rosen in talks to buy Paramount’s East Side tower for $400M
RFR Realty's Aby Rosen, Brookfield's Ric Clark and the Lever House at 390 Park Avenue (Credit: Getty Images and Google Maps)

Aby Rosen’s new landlords move to take control of Lever House

Aby Rosen’s new landlords move to take control of Lever House
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...