Engaged hedge donor Philip Falcone is in danger of losing his expensive homes on the Upper East Side and the Hamptons.
The founder of Harbinger Capital, whose property was frozen by a judge in Manhattan last year, owns a five-storey town house in 66 East 67th Street which was on the market in 2018 and demanded $ 39 million; and a 14,000 – square – foot castle in 142 Crestview Lane in Sagaponack, which is on the market and demands $ 27.9 million.
Now, the mezzanine creditor of the property, Melody Capital, has scheduled an auction to close the UCC for household ownership, according to the sale announcement. The loan has a balance of just over $ 74 million.
A Falcone representative could not be contacted immediately for comment and a Melody Capital spokesman declined to comment.
The auction is scheduled for April 13, according to sales announcements listed by Dustin Stolly, Jordan Roeschlaub and Dan Fromm of Newmark as sales marketing brokers. The mediator could not be contacted for comment.
According to Forbes, Falcone had net worth $ 1 billion in 2014. But he had his ups and downs. Falcone reportedly settled a case with the Securities and Exchange Commission in 2013 on charges that he borrowed more than $ 100 million from his hedge fund to pay his personal taxes.
According to the Financial Times, a New York judge froze Falcon’s assets after failing to pay millions of legal costs to the law firm that defended him in the case.