Sunday, 28 December 2014
Last updated 3 hours ago
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.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.