Condo linked to money laundering is auctioned

Stella Tsang (left), her husband center and auctioneer Mike Lewis.

Stella Tsang (left), her husband center and auctioneer Mike Lewis going over contract.

A Long Island woman who gave her name as Stella Tsang was the winning bidder at today’s auction of a Chelsea condo that the U.S. Treasury Department seized after a former president of Taiwan pleaded guilty to money laundering.

Her final $1.5 million offer bested six or seven others in spirited bidding at the event, which attracted a standing-room crowd of more than 50 individuals at the TRYP by Wyndham Times Square on West 35th St. near Madison Square Garden.  More than 20 bidders were registered.

Allowing that “I think it’s a good price,” Tseng quipped, “My allowance is depleted.”

The two-bedroom, two-and-a-half-bath unit 5B is described as having a chef’s kitchen with black granite countertops and top-end appliances, Wenge hardwood floors, limestone and radiant heating in the baths, soaking tub and rain-head shower, and floor-to-ceiling windows.  It is in the Onyx, 261 W. 28th St.

Chelsea’s Onyx

Unit 8B, which had an asking price of $1.695 million when it went on the market also a year ago, sold in November for $1.6 million. It, too, has square footage given as 1,265, so I suspect 5B is that big as well, but square footage always is squishy, depending on who does the measuring and what portions are included.

A series of trusts and limited liability corporations (LLCs) created offshore were linked to the family of former Taiwan President Chen Shui-Ben and his wife.  The couple has been convicted of bribery, embezzlement and money laundering.

Thursday: Blind trust

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
F: 347-438-3201
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