Developer behind $58M Ponzi scheme sells Manhattan properties at auction

Westchester developer Michael D’Alessio, who pleaded guilty to fraud charges in November, sold multiple development projects at bankruptcy auctions over the last few months, court records show. Among them are two boutique Manhattan condominium buildings on the Upper East Side. A development at 227 East 67th Street, where D’Alessio’s Michael Paul Enterprises and its broker, Ryan Serhant, originally planned to sell five units for $28.5 million, sold for $15 million at auction. And 184 East […]

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