Real estate investor who pled guilty to $96M ponzi scheme lists UES apartment for $2M

TRD New York /
Jan.January 27, 2017 11:56 AM

The unit at 200 East 61st Street and Adam Manson

Adam Manson, a Long Island real estate investor who pled guilty in 2014 in a $96 million ponzi scheme, has listed a rather modest apartment he owns at 200 East 61st Street for $1.725 million, according to city records.

Manson and his brother-in-law Brian Callahan pled guilty to taking money from investors who thought they were putting their money in hedge funds and using it to fund the Panoramic View Resort & Residences in Montauk. Callahan and Manson sent out fake account statements showing how investors’ money had grown, though the whole thing fell apart in 2012 when the SEC brought a case against them. Manson was sentenced to up to five years in prison as part of a plea deal.

In surprise twist, however, the property turned out to be a pretty good investment, and its sale may have allowed some of the investors to get some of their money back.

This apartment at 200 East 61st Street was also a pretty good investment; Manson bought the one-bedroom, one-and-a-half-bathroom property with his late mother, Beverly Manson, in 2002 for only $600,000.


Related Articles

arrow_forward_ios

Bikram Yoga guru lists former Kushner UES pad for $4M

The Cartier “Tank” turns 100

Spitzer’s secret squeeze is an NYC property manager

Billionaire to stand trial after allegedly smuggling Picasso painting on his yacht

President of Brown University lists Tribeca crash pad for $1.7M

Board Approved:
720 Park Avenue

Kristin Chenoweth wants to defy your expectations

Papers, please

arrow_forward_ios