Former senator’s Bronx pad up for sale

New York /
Feb.February 28, 2011 11:39 AM

Pedro Espada and 325 East 201st StreetFormer State Senator Pedro Espada — who is now under indictment for using non-profit funds for personal use — is selling his Bronx co-op at 325 East 201st Street, the Daily News reported. The home was a source of controversy throughout Espada’s political career, as he frequently fought off charges that he only kept the co-op to establish residence in the Bronx and didn’t actually live there. Espada bought the pad in 2007, for $25,000 more than its current asking price of $199,000. But Espada, who also has a home in Mamaroneck across the Westchester line outside his old district, may have to take even more of a loss, according to real estate agents. Gregory Tsougranis, a broker who recently sold a two-bedroom co-op just below Espada’s in the East 201st Street building, said that unit took 92 days to sell and went for $190,000. Espada has insisted the Bronx building was his primary home, but the apartment remains under investigation by Bronx District Attorney Robert Johnson, who has been trying to determine whether the unit was Espada’s legal district residence. There are also questions over whether it was purchased illegally with Medicaid funds from Espada’s Soundview Healthcare Clinic. Espada and his son were indicted in December on six federal counts of embezzlement and theft. They’re accused of using public money to Buy Broadway tickets, a Bentley and fancy restaurant meals. [NYDN]


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