US Marshals to auction Aby Rosen’s longtime UES home

Sale to settle judgement against his landlord, the African nation of Niger

May.May 23, 2017 08:30 AM

5 East 80th Street (inset from left: President Issoufou Mahamadou and Aby Rosen) (credit: Getty)

Aby Rosen’s longtime home, a limestone townhouse he leases at 5 East 80th Street, is to be auctioned off by the U.S. Marshals Service in June, following a massive judgement issued against his landlord.

Rosen has rented the property for about 15 years and even reportedly married his wife Samantha Boardman on its rooftop terrace in 2005. The building was formerly home to Imelda Marcos.

In January, a New York judge ruled that a company with a judgement against the property’s current owner, the African nation of Niger, could seize it. The creditor, Africard, reportedly won an award against the country three years ago after Niger failed to honor a contract for the production and sale of identity cards. The house was deemed to be the poor country’s largest asset.

The property will be auctioned June 27 with a minimum starting bid of $15 million, well below its market value.

Sources said Rosen has the right to bid on the property, though Africard has formally tapped George Vanderploeg of Douglas Elliman to market it to the masses. With Rosen’s lease still in effect — he has renewal options through 2032 — the property will likely appeal predominantly to long-term investors, sources said.

Vanderploeg said that, were the property vacant, it could sell for in excess of $40 million.

One person familiar with the deal said that Rosen pays well below market rate rent for the house — a source quoted just $23,500 a month — and plowed several million dollars of his own money into renovating it.

The 25-foot-wide, six-story building spans 12,000 square feet and has its own elevator, according to the listing.

Rosen TRData LogoTINY didn’t immediately respond to a request for comment.

Related Articles

TRD Talks Live

Watch tonight: Turning to tech on TRD Talks Live

(Credit: iStock)

Strong quarter for Manhattan home sales belies current struggle

Manhattan resi listings continue nosedive: report

Manhattan resi listings continue nosedive: report

252 East 57th Street and 196 Orchard Street with Samantha Sheeber and Tal Alexander

Closing in the time of Covid-19: “We’re pulling out all the stops”

Kuwait’s consul general in New York, Hamad Al-Hazeem and 50 United Nations Plaza (Credit: Google Maps)

Kuwait’s consul general buys 50 UN Plaza pad for $16M

Web searches for terms including “homes for sale” are way down up north. (Credit: Pixabay)

Fewer Canadians are searching for homes online amid pandemic

Massive stimulus package has limited upside for real estate

Massive stimulus package has limited upside for real estate

About 450 sellers pulled their listings last week (Credit: iStock)

As New York shut down, so did its resi market