Tags: Corzine | penthouse | loss | Hudson

Corzine Sells NJ Penthouse for $2.8 Million

Friday, 25 May 2012 03:24 PM

A Hoboken, N.J., penthouse belonging to Jon Corzine, the former chairman of bankrupt MF Global Holdings Ltd., sold for $2.8 million, 14 percent less than what he paid for it in 2008.

The buyer of the 2,400-square-foot, two-bedroom apartment is listed as POJ Holdings LLC, which paid in cash, according to Kevin Dowd, a broker with Prudential Castle Point Realty in Hoboken, citing the multiple listing service. Dowd wasn’t involved in the deal, which was completed on May 7.

Corzine, a former governor of New Jersey and co-chairman of Goldman Sachs Group Inc., bought the apartment in November 2008 for $3.26 million, according to property records. He sought $2.9 million when he put it on the market in January. The penthouse, in Toll Brothers Inc.’s Maxwell Place complex, has has floor-to- ceiling windows with views of the Hudson River and the Manhattan skyline, according to the listing by Jessica O’Connor Williams, a broker with Prime Real Estate Group in Hoboken.

“At the time that Corzine purchased the property it was clearly the No. 1 luxury property in Hoboken,” Dowd said. “Top floor, direct, smack-you-in-the-face views of the city. You really can’t beat that.”

The apartment, which includes Viking kitchen appliances and a Jacuzzi in the master bathroom, has a $1,700 monthly maintenance fee. Property taxes in 2011 were $38,003, according to the listing. That bill made Corzine one of Hoboken’s top 10 taxpayers, Dowd said.

Steven Goldberg, a spokesman for Corzine, declined to comment. O’Connor Williams said she couldn’t immediately comment.

MF Global, a New York-based futures broker, filed the eighth-largest U.S. bankruptcy on Oct. 31 after making bets on European sovereign debt and getting margin calls. Corzine testified before Congress in December about MF Global’s failure.

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