Sunday, July 5, 2009

Feds Seize Madoff Apartment


U.S. Marshalls seized Ponzi Scammer Bernie Madoff's Upper East Side "penthouse" this week- leaving his wife Ruth without a place to stay. In fact, Ruth Madoff (below) was recently photographed taking the NYC subway (quel horreur!).
Justify Full

OK, I'm going to give you out-of-towners some insider NYC information (NOTE: I used to work on the same block as the Madoff's). First of all, just because the Bernie and Ruth lived in a "penthouse" on the Upper East Side, it doesn't necessarily make their building a prized living space. The Madoff apartment was/is at the corner of 64th Street and LEXINGTON Avenue. Uber-wealthy and/or upper crusty New Yorkers know that Lexington Avenue is not a desirable address - Fifth and Park Avenues are where most of the "exclusive" buildings are. After all, Eva Gabor didn't say "Darling I love you, but give me LEXINGTON Avenue" on Green Acres now did she?

Furthermore Matt Lauer also lives in the Madoff building - which, believe it or not, illustrates its NON-exclusivity. Celebrities are usually not approved by the co-op boards in big-money buildings - even if they have big money. Madonna, for instance, couldn't get approved on Fifth Avenue, and had to settle on the West Side.

And the fact that the media calls the Madoff apartment a "penthouse" doesn't meat squat - it probably just means they lived on the top floor. Yes, the top floor of any building is the most desirable (for the potential views), but when you live on Lexington there isn't much to look at. Except the back of all the fierce buildings a block away on Park Ave.

Besides, I lived on the top floor of my five-story building for years, but it certainly wasn't the "penthouse". It just meant I had to walk up more steps!

Finally, people with money take the subway all the time. Yes, most would prefer to take a car & driver everywhere they go - but at certain times of the day the subway is the fastest and easiest way to get from point A to point B. The subway is NYC's great equalizer - for $2.25 we all get the exact same service - "VIP's" have to fight for a seat like everyone else.


9 comments:

Miss Ginger Grant said...

and you told me our midnight trip to Brooklyn was in "first class!"

Anonymous said...

Agree with your summary of the NYC real estate pecking order, however, I believe the photo of Ruth on the subway was taken before the apartment was seized.

Beth said...

LOL at Miss Ginger's comment! Interesting info--thanks for sharing it! XOXO Beth

David Dust said...

Anon -

Thanks for the info. I did some research, and you are correct.

That photo was taken at the end of June. The New York Post ARTICLE also stated that Ruth had been banned from her hairdresser. Poor dear...

XOXOXOXOXO

Joy said...

Love these inside NYC posts!

Bless her heart, such a downgrade, but she could have been in prison, too!

KAOS said...

*Sigh*

All this talk of NYC reminds me of my short-lived career as a barely legal kept boy toy on 93rd and Columbus.

Those were the days.

Kitty Bradshaw said...

I sooo want this post for my site!!!! lollll

Good job on your research... I am not a native New Yorker, so I learned a thing or two.

Mark in DE said...

$2.25? I thought it was $2.00 even to ride the subway anywhere, anytime.

God, I love NYC!!

David Dust said...

Mark -

It just went up to $2.25 a week ago...

XOXOXOXOXOXO

Related Posts Plugin for WordPress, Blogger...