Semi-monthly news and updates about the homes, people, businesses and communities that are featured in Lake Washington 130 Homes. This covers the Lake Washington waterfront in Seattle’s Madison Park, Denny-Blaine and Madrona neighborhoods, Mercer Island, and The Eastside communities of Bellevue, Medina, Hunts Point and Yarrow Point.
(The above home belongs to Charles Simonyi. See 5/31/11 post.)

Sunday, February 26, 2012

Mastro Pieces and Michael’s Mansion

Mastro’s Former Medina Mansion
“Mastro Pieces” is the title of today’s Seattle Times article on the auction of Michael Mastro’s items that he left behind before he and his wife disappeared last summer. They remain at large following warrants for their arrest and court orders that they turn over jewelry valued at $1.4 million.The courts confiscated items left behind. These include the following items (and the auction net prices): 2007 Bentley ($95,500), Chihuly chandelier ($35,000), Steinway piano ($17,000) and four bottles of wine ($2,200). The auction netted a total $341,000.
The mansion was sold by the bankruptcy court in 2010 for $9.1 million. Unpaid debts are more than $270 million.
The Mastro bankruptcy, with original debts of $570 million, is the largest in Washington state’s history. Many “family and friends” lost their fortunes when his commercial real estate investment funds failed. More information about Mastro and his former Medina Mansion is in previous posts on 4/6/11, 11/10/10, 10/11/10 and 11/12/09 and Lake Washington 130 Homes on page 126.

No comments:

Post a Comment