Oh, the Irony!!

[FCD]

Billionaire (used-to-be) developer sells Hamptons home at deep discount.  Only problem is...there's no C.O. (that's Certificate of Occupancy for those unfamiliar), and it's a big deal.  Normally, A CO might just be a few Code related things, but not this place.  The dude wiped out some wetlands to build an expansion on the home (seriously bad ju-ju, messing with wetlands, and this is not a democrat / republican thing either, just straight-up bad ju-ju).  Likely will cost millions...IF...it can even be corrected, before a CO will be issued.  But, once again, there's even more!!

It seems Mr. Macklowe (the owner and developer) has some overdue loans.  Big ones!  Can you imagine who holds those notes????  Deep in the article you will see..."Israel Discount Bank"...as the creditor.  

How Ironic, don't you think?

So let me reframe the discussion for a moment..."You either "play" the game with the fishes, or you sleep with them, got it????"

Seems Mr. Macklowe thought he could play the odds both ways.  Don't work like that when you're dealing with "Rocco", or Hymie (as it were).

for your reading pleasure...

https://nypost.com/2025/01/15/real-estat...ive-there/


'

[19Bones79]

Billionaire (used-to-be) developer sells Hamptons home at deep discount.  Only problem is...there's no C.O. (that's Certificate of Occupancy for those unfamiliar), and it's a big deal.  Normally, A CO might just be a few Code related things, but not this place.  The dude wiped out some wetlands to build an expansion on the home (seriously bad ju-ju, messing with wetlands, and this is not a democrat / republican thing either, just straight-up bad ju-ju).  Likely will cost millions...IF...it can even be corrected, before a CO will be issued.  But, once again, there's even more!!

It seems Mr. Macklowe (the owner and developer) has some overdue loans.  Big ones!  Can you imagine who holds those notes????  Deep in the article you will see..."Israel Discount Bank"...as the creditor.  

How Ironic, don't you think?

So let me reframe the discussion for a moment..."You either "play" the game with the fishes, or you sleep with them, got it????"

Seems Mr. Macklowe thought he could play the odds both ways.  Don't work like that when you're dealing with "Rocco", or Hymie (as it were).

for your reading pleasure...

https://nypost.com/2025/01/15/real-estat...ive-there/


'

I checked he's Jewish and they're a Jewish bank.
It's against Jewish law for one Jew to charge interest on a loan to another Jew.


He's also a billionaire so perhaps after a certain amount the law means nothing.