Wife of drug lord flipped Harlem co-op at a 172,000% markup

Manhattan DA's office is trying to seize the money: court documents

New York /
Mar.March 18, 2016 01:45 PM

The old saw is that crime doesn’t pay, but that doesn’t stop people from trying. The Manhattan District Attorney’s office is looking to seize the over $400,000 in profits a drug boss’ wife made after flipping her co-op pad she purchased from the city for $250.

In 2004, Nicole McNair-Moultrie bought a three-bedroom apartment at 101 West 115th Street in Harlem from the city’s Department of Housing and Preservation Development. The city program aimed to increase ownership for low- and middle-income families.

Her husband, Lamont Moultrie, used the building as a base for a large drug-selling operation, according to court documents. After a 15-month investigation, Moultrie and the 35 members of his drug crew were busted in January 2012, DNAinfo reported.

During the raid, agents found 7.3 gallons of PCP worth $4.7 million in an empty apartment next to the Moultries’ unit, and prosecutors estimated the operation brought in $1.5 million in PCP sales, according to court documents. Lamont Moultrie pleaded guilty to manslaughter and operating a major drug ring while his wife pleaded guilty to conspiracy charges, DNAinfo reported.

McNair-Moultrie served three and a half years. After she was paroled in late 2014, she sold the apartment to an East Harlem teacher for $430,000 in January 2015, according to records.

“Nicole Moultrie is now out of prison and able to enjoy the fruits of her husband’s drug trade,” Lynn Goodman, a prosecutor, wrote in the petition for civil forfeiture. [DNAinfo]Dusica Sue Malesevic


Related Articles

arrow_forward_ios
How long does it take to lease an affordable housing project? Too long
Red tape keeping affordable units empty for 15 months
Red tape keeping affordable units empty for 15 months
Size doesn’t matter, say New York’s co-living and micro developers
Size doesn’t matter, say New York’s co-living and micro developers
Size doesn’t matter, say New York’s co-living and micro developers
Trust-fund kids exploit NY housing subsidy program
Trust-fund kids exploit NY housing subsidy program
Trust-fund kids exploit NY housing subsidy program
HUBBNYC president John McCarthy and 56 West 125th Street (J Frankl Architects)
HUBBNYC pays $105M for Harlem apartment building
HUBBNYC pays $105M for Harlem apartment building
HAP Investment Developers CEO Eran Polack with 2211 Third Avenue (HAP, StreetEasy)
NYC tries to fix supermarket program’s fundamental flaw
NYC tries to fix supermarket program’s fundamental flaw
Neil Patrick Harris (right) and David Burtka with 2036 Fifth Avenue (Getty, Google Maps)
Neil Patrick Harris lists legendary brownstone for — wait for it — $7M
Neil Patrick Harris lists legendary brownstone for — wait for it — $7M
From left: Camber Property Group principals Rick Gropper, Andrew Moelis, Harlem Congregation for Community Improvement president Malcolm Punter and 104-110 West 144th Street in Harlem (Photos via Camber, Harlem Congregation, Ariel Property Advisors)
Affordable housing developer Camber Property buys 60-unit Harlem complex
Affordable housing developer Camber Property buys 60-unit Harlem complex
Bill Shanahan and Darcy Stacom (Getty)
CBRE nabs REBNY’s top two “ingenious deal” awards
CBRE nabs REBNY’s top two “ingenious deal” awards
arrow_forward_ios

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

Loading...