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.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of