Cabbage Patch CEO Snags Madoff Pad

Take a look at what $9M will get you in New York City

By Polly Davis Doig, Newser Staff

Posted Feb 7, 2010 8:06 AM CST

(Newser) – The guy who brought you Cabbage Patch Kids and Pokemon has snapped up the penthouse apartment of erstwhile Ponzi schemer Bernard Madoff, reports the New York Post. Al Kahn is the CEO of 4Kids Entertainment, and will be calling the 4000-square-foot lux digs in Manhattan's... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

11 comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

'Serpent Pastor' Dies of Snake Bite

Oosp: Romney's New App Misspells 'America'

New York Post (Source Grid »)

Celebrity • Crime & Courts • Money

real estate • New York real estate • New York City • Upper East Side • Ponzi scheme • Bernard Madoff • Al Kahn • Cabbage Patch Kids

More Newser Stories

New Owners Love Bernie Madoff's Pad

Patio trumps 'karma' concerns

(NEWSER) - Bernard Madoff may be a despicable con artist, but say this for the guy: he had a nice place. Now that place, a penthouse overlooking Manhattan’s Upper East Side, belongs to toy mogul Al Kahn and his wife, Patsy, and they say they couldn’t be happier, reports the New York Post . Not only does the place have a great view, it came at a bargain price—just $8 million, far below the original $9.9 million asking price. More»

Madoff Shakes NY Real Estate Industry

Scandal jeopardizes dozens of projects; loans may be called in

(NEWSER) - New York's once booming real estate industry has already been struggling with the recession, but the revelation of Bernie Madoff's $50 billion Ponzi scheme has hit commercial brokers and developers particularly hard. Deals across the city have been put in jeopardy, buyers have withdrawn pledges to purchase, and Madoff investments used as collateral are now worthless. "The level of devastation, both financial and on a human level, is astounding," said one real estate lawyer whose 10 clients have each lost from $5 million to $50 million. More»

$90M+ Manhattan Penthouse Sets Record

Mystery buyer snaps up One57 duplex

(NEWSER) - A mystery buyer has smashed a New York City record by shelling out more than $90 million for a duplex penthouse, reports the New York Times . The 10,923-square-foot property—with 23-foot ceilings—occupies the 89th and 90th floors of One57, a midtown residential building that is still under construction. Gary Barnett, president of Extell Development Company, has declined to reveal the exact price, but says it didn't break the $100 million barrier. More»

NYC Buyers Win Apartments With ... Love Letters

Real estate brokers recommending the practice

(NEWSER) - How to snag a coveted New York City apartment? Increasingly, brokers are recommending an unconventional tactic: love letters. The letters are sent along with the offer, and they should include such heartwarming details as the story of how a couple met (just two blocks away, while walking their dogs!), imagined play dates in the neighborhood with future children, or things potential buyers find particularly wonderful about the home in question. "It’s a love letter," one broker tells the New York Times . "Go for the schmaltz." More»

For Sale: Stock in the Empire State Building?

Family controlling the building wants to open new real estate company

(NEWSER) - Looking to invest in a piece of the New York real estate market? Well, soon you may be able to invest in the biggest piece of all: the Empire State Building. The Malkin family, which controls the building, is trying to create a publicly-traded real estate company that would feature the landmark as its headline property, the New York Times reports. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Cabbage Patch CEO Snags Madoff Pad

Take a look at what $9M will get you in New York City

real estate • New York real estate • New York City • Upper East Side • Ponzi scheme • Bernard Madoff • Al Kahn • Cabbage Patch Kids

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

New Owners Love Bernie Madoff's Pad

Patio trumps 'karma' concerns

Madoff Shakes NY Real Estate Industry

Scandal jeopardizes dozens of projects; loans may be called in

$90M+ Manhattan Penthouse Sets Record

Mystery buyer snaps up One57 duplex

NYC Buyers Win Apartments With ... Love Letters

Real estate brokers recommending the practice

For Sale: Stock in the Empire State Building?

Family controlling the building wants to open new real estate company

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?