Once a real estate mogul, Aaron Ziegelman now solicits donations

New York /
Jul.July 09, 2012 06:15 PM

It’s a different kind of real estate fund. The New York Times reported that onetime real estate mogul Aaron Ziegelman has solicited nearly $1 million in donations through a hand-written letter to people in the real estate industry, philanthropists, even parents of children who attend the Jewish-affiliated Camp JRF in the Poconos to which he donated $1 million, asking for some serious help.

“I’m faced with creditors who are trying to take away my home,” Ziegelman wrote. “I need your financial help to save my home and to clean up the mess so I can start making a living.”

Though some have helped —  Saul Zabar, president of the Upper West Side supermarket Zabar’s and developer George Klein — others allege that Ziegelman is a con man who has previously been involved in Ponzi schemes. Ziegelman’s business partner, investors, a cousin and former friends say in lawsuits all filed last year that he owes them millions of dollars.

But Ziegelman told the Times that he’s settling most of the cases and that there were no criminal investigations into his finances and no court decisions against him.

Ziegelman made his fortune through converting a group of rental apartments in 120 rental buildings around the city into condominiums or co-ops. His calls for help mark a stark contrast between the days when he was reportedly transported between his buildings in a Jaguar driven by a chauffeur and held fabulous parties at Tavern on the Green and the Rainbow Room. [NYT]


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
The office space at 99 Church Street  (Google Maps)
Berkeley College selling two downtown White Plains buildings
Berkeley College selling two downtown White Plains buildings
The inside of a Queens apartment damaged by Hurricane Ida (Getty)
Queens homeowners demand answers for flooding
Queens homeowners demand answers for flooding
Douglas Durst, One Bryant Park, Robert Durst (Getty, Durst Org)
Robert Durst’s nephew sues Durst family for cutting off trust payments
Robert Durst’s nephew sues Durst family for cutting off trust payments
A&E’s Douglas Eisenberg and the apartments (Stonehenge 57)
Tennessee pension fund joins A&E on Sutton Place apartments
Tennessee pension fund joins A&E on Sutton Place apartments
EverWest acquired a Maspeth warehouse from Wharton for $57M
EverWest acquired a Maspeth warehouse from Wharton for $57M
EverWest acquired a Maspeth warehouse from Wharton for $57M
arrow_forward_ios

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

Loading...