The Real Deal New York

Feds sell fraudster’s Tribeca triplex for $9M

Jason Galanis was sentenced to 14 years in prison last year
By Will Parker | August 31, 2018 12:45PM

Jason Galanis and 260 West Broadway Unit 1/2C (Credit: Sotheby’s)

The U.S. Marshals Service sold convicted felon Jason Galanis’ former home at 260 West Broadway for $9 million, filings recorded with the city Friday show.

The buyer is hard money lender Emerald Creek Capital, which had held debt on the property.

The 8,000-square-foot triplex apartment at the American Thread building has 10 rooms and an original Keith Haring mural. Galanis paid $10 million for it in December of 2014, records show.

The federal law enforcement agency seized the property in connection with Galanis guilty plea to financial crimes in 2016. The following year, Galanis was sentenced to 14 years in prison after admitting to defrauding a Native American tribe in a bond scheme in which he allegedly misappropriated $8.5 million in proceeds into his own pockets. In addition to his sentence, the government order him to forfeit $43.3 million in assets.

Lisa Scolari, an attorney for Galanis, did not immediately return a request for comment.

In March, The Real Deal published a story about the federal government’s track record of seizing and selling high-end New York real estate.