Coveted Arts Club apartments become available following launch of investigation

October 03, 2012 03:30PM

A number of Gramercy Park apartments at the National Arts Club have become available. The units will hit the rental market, available only to members of the club, following the launch of an investigation by the state Attorney General into former President Aldon James’ management of the coveted residences, Real Estate Weekly reported.

James was said to have used his position at the club to illegally control 14 apartments and other rentable club spaces at the 15 Gramercy Park South building, according to previous reports. Ten of those 14 apartments are now being renovated and will be rented at fair market rents. The four remaining units are still controlled by James.

The apartments were trashed by James and his cronies, Real Estate Weekly reported, and will need extensive work.

Residents of the building include actresses Julia Roberts and Kate Hudson. [Real Estate Weekly] — Katherine Clarke