The grand doyenne of home advice would prefer you forget it, but, back in 2004, Martha Stewart was convicted for insider trading and sentenced to five months in prison. The case centered around the sale of ImClone stock, based on inside information provided by her trader and sourced from the company's CEO, Sam Waksal, who was also dumping his stock. Aliza Waksal, the CEO's daughter, sold $2.5M worth of stock at the same time, but was never charged as part of a deal that sent Sam up the river for seven years. The Waksal's defended Aliza's stock sale as motivated by a desire to purchase an apartment, and this 3,752-square-foot Tribeca loft is that very apartment. Purchased in 2001 for $1.42M, the light-filled pad sure seems like a more comfortable, and more profitable, place to spend seven years than a prison cell. Waksal has the loft listed today for $5.2M and it is also available as a rental for $23,000 per month.
· 169 Hudson Street [Streeteasy]
· Residents Suddenly Want Out at Tribeca's 169 Hudson Street [Curbed NY]