Monday, March 2, 2009

The Real Estaters on Madoff’s Client List

Posted By C. Brown

It’s not a great time for real estaters, so it’s doubly bad news to find yourself on Bernard Madoff’s client list. A cursory search of the 13,000 accounts (and previous disclosures) came up with more than a few prominent property players:
Edward Blumenfeld: Founder of Blumenfeld Development Group of Syosset, N.Y. on Long Island. A developer and owner of property in New York, Florida, North Carolina and Connecticut. Mr. Blumenfeld declined to comment, according to a spokesman.
Brause Realty: Family run real-estate firm with properties in New York, Florida, Connecticut, Maryland and New Jersey, according to the company’s Web site. A representative didn’t respond to a request for comment.
Stephen Green: Founder and chairman of SL Green Realty, one of the largest owners of Manhattan office buildings. An SL Green spokesman says “Steve Green prefers not to discuss his personal investments that have nothing to do with SL Green.” The spokesman says: “SL Green as a company has had no exposure to investments with Madoff, and does not comment on the personal investments of its executives and board members.”
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