Suspect Turkish trader flips Laurel pad

TRD New York /
Aug.August 28, 2013 02:23 PM

Yomi Rodrig, a Turkish trader who has scuffled repeatedly with the U.S. Securities and Exchange Commission, has offloaded his Laurel condominium, selling it for $5.4 million, property records filed today with the city show. 

Karen Gorstayn of Fox Residential Group listed the 2,285-square-foot, three-bedroom, three-bathroom apartment in March for $5.8 million, StreetEasy shows. The listing went into contract on June 20 and closed on July 24. Gorstayn could not immediately be reached for comment.

A company identified in property records as Leonard Holdings Ltd. purchased the condo.

Rodrig bought the sponsor unit just a year and a half ago, in April 2012. Aside from the $500,000 bump he grossed on the sale, Rodrig was renting out the apartment, and tenants are in place until the end of 2014, the listing says. The unit features floor-to-ceiling windows, a wine cooler, an eat-in breakfast room and oak floors.

Rodrig’s latest troubles with the SEC stemmed from his purchase of millions of dollars of shares in special chemicals maker Arch Chemicals days before the Switzerland-based Lonza Group announced its $1.2 billion purchase of the company. The SEC sued two firms allegedly controlled by Rodrig in July 2011, claiming he had improper advance knowledge of the acquisition.

However, Rodrig’s dealings with the SEC date back to 2005 when he agreed to forfeit $4.8 million in trading profits and pay a $1.4 million penalty to settle short-selling claims, as previously reported.

The Laurel, meanwhile, is a five-year-old, 129-unit building at 400 East 67th Street that was developed by the Alexico Group and designed by noted architecture firm Costas Kondylis & Partners.

It features 12,000 square feet of amenities, including a 50-foot lap pool, steam room and sauna, children’s play areas and an atrium lounge. The average price per square foot of closed sales at the Laurel in the past year averaged $1,419, real estate database CityRealty shows. Rodrig’s apartment sold for $2,363 per square foot, by The Real Deal’s calculation.


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