These are photographs of Michael R. Mastro’s Medina/Evergreen-Point mansion. It is 7,050 square feet with 176 feet of waterfront. The Mastro’s paid $15 million for the mansion in July 2006. I took these photographs and they are from my book, Lake Washington 130 Homes, http://www.hundredhomes.net/.
The Seattle Times and Puget Sound Business Journal have reported Michael Mastro, age 84, declared bankruptcy this summer. His investors included many “family and friends” who begged to let them invest in his commercial real estate projects. His projects, up until 2008, had substantially higher than average returns for more than 20 years. The publications also reported Mastro, regarding allegations that he tried to put this mansion, Rolls-Royce and jewelry out of reach of creditors, stated, “These allegations are misleading, incomplete and inflammatory.”
The Seattle Times and Puget Sound Business Journal have reported Michael Mastro, age 84, declared bankruptcy this summer. His investors included many “family and friends” who begged to let them invest in his commercial real estate projects. His projects, up until 2008, had substantially higher than average returns for more than 20 years. The publications also reported Mastro, regarding allegations that he tried to put this mansion, Rolls-Royce and jewelry out of reach of creditors, stated, “These allegations are misleading, incomplete and inflammatory.”
I have known Mr. Mastro for almost 15 years. He did not enter into bankruptcy voluntarily. He is humble,compassionate, and honest. If he would have been given a little more time he could have worked out his deals with banks and investors. That is why banks, investors, developers, borrowers, and family have come back to do business with Michael R Mastro for decades. Besides the numerous charitable contributions that the Mastro family have given over the years, Mr. Mastro made dreams come true for thousands of Seattle area entrepreneurs. He helped dozens of community banks when they got in a pinch. He is a man anyone could count on. Michael R Mastro you have real friends.
ReplyDeleteYeah, he sounds wonderful...A "little more time"...so he could screw someone else?? "Rob Peter AGAIN to pay Paul???" He filed bankruptcy, because his "bad business" practices and lies caught up with him. Period.
ReplyDeleteThe very image of humbleness and simplicity.
ReplyDeleteYou may want to talk to some of my relatives who lost their life savings to Matro. Slick with slime, the fellow is.
dog shit
ReplyDelete