Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord, who, in a made-for-the-tabloids twist, is a former model.

Viking Global Investors’ Paul Enright paid more than $1 million to rent a Manhattan townhouse from Brenda Schad—better known in some quarters as “Miss Wonderbra.” But Enright complained that he and his family were never given access to the basement of the East 19th Street house, and that the backyard was rendered useless by a rat infestation.

Enright, who lived in the 4,120-square-foot home for four years, moving into a $25 million Park Avenue apartment last year, now wants $621,000 back from Schad, demanding a refund for 32% of the home’s square footage—the basement and backyard—and an additional 25% for other problems with the building, including a leaky roof.

For her part, Schad called the lawsuit “frivolous” and called Enright “a very difficult tenant.”

She told the New York Daily News that the Enrights routinely refused to give her access to the $5 million home when she came to New York to deal with the issues. But in spite of their complaints about the house, they twice threatened to remain in the home as “holdover tenants”—paying no rent—when she refused to renew their lease.

What’s more, Schad said, the Enrights did damage to the home that “went beyond the normal wear and tear.” And, she added, the lease never offered them access to the basement.

As for the rats, Schad says, “It’s New York City!” She blamed the problem on a construction project down the block.

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Editor's Note

    Oct 21 2015 | 10:41am ET

    One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…