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

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

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

Bikram Yoga guru lists former Kushner UES pad for $4M
The Cartier “Tank” turns 100

The Cartier “Tank” turns 100

The Cartier “Tank” turns 100
Spitzer’s secret squeeze is an NYC property manager

Spitzer’s secret squeeze is an NYC property manager

Spitzer’s secret squeeze is an NYC property manager
Billionaire to stand trial after allegedly smuggling Picasso painting on his yacht

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

Billionaire to stand trial after allegedly smuggling Picasso painting on his yacht
President of Brown University lists Tribeca crash pad for $1.7M

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

President of Brown University lists Tribeca crash pad for $1.7M
Board Approved: 720 Park Avenue

Board Approved:
720 Park Avenue

Board Approved:
720 Park Avenue
Kristin Chenoweth wants to defy your expectations

Kristin Chenoweth wants to defy your expectations

Kristin Chenoweth wants to defy your expectations
Papers, please

Papers, please

Papers, please
arrow_forward_ios

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

Loading...