The Real Deal Miami

Indebted Veronica Hearst sells Manhattan co-op

May 01, 2008 04:22PM

Veronica Hearst, the widow of the late Randolph Hearst, is selling her co-op at 4 East 66th Street in New York City for around $30 million in order to settle some serious debts, including $45 million she owes to a lender. Hearst recently had a foreclosure auction where she sold her 52-room villa near Palm Beach for $22 million. The building where her co-op is located requires that deals are done in cash, but there is speculation that the co-op board may have had to ease the rules to net a new buyer in the case that Hearst’s co-op shares went into foreclosure – allegations that the board denies.