Sunday, February 27, 2011

Live like Pedro! Disgraced former state senator's Bronx 'pad' up for sale

Sunday, February 27th 2011, 4:00 AM
Former State Senator Espada Jr. shows off his wall full of pictures.
Lombard for News
Former State Senator Espada Jr. shows off his wall full of pictures.
You can now buy the place where Pedro Espada lived - well, where he technically lived.
The disgraced former state senator - under federal indictment for using a nonprofit as his personal piggyback - is selling his much-mocked Bronx home, the Daily News has learned.
The lightly-used co-op was a source of controversy throughout Espada's political career, as he frequently had to fight off charges he only kept the co-op to establish residence in the Bronx and didn't actually live there.
Those looking to purchase the place where Espada slept - from time to time - will have to fork over $199,999, which is about $25,000 less than he paid for it 2007.
But Espada, who admits to keeping a home in Mamaroneck across the Westchester line outside his old district, may have to take even more of a loss, according to real estate agents.
Gregory Tsougranis, a broker who recently sold a two-bedroom co-op just below Espada's in the E. 201st St. building, said that unit took 92 days to sell and went for $190,000.
"It's a good deal," said Tsougranis. "It's a very strong building."
A call to Espada's spokesman was not returned yesterday.
Espada, who has mounting legal bills, has insisted the Bronx building was his primary home. But the apartment, which also requires $675 monthly maintenance, remained under investigators' scrutiny.
Bronx District Attorney Robert Johnson has been investigating whether the unit was Espada's legal district residence, and there remains some question whether it was purchased illegally with Medicaid funds from his Soundview Healthcare Clinic.
Espada and his son were indicted in December on six federal counts of embezzlement and theft. They're accused of using public money to buy Broadway tickets, a Bentley and fancy restaurant meals.
The state recently barred Medicaid payments covering Espada and his son's salaries at the clinic, and a lien could be placed on money from the sale of the co-op.
Despite the controversies, Espada ran for reelection last fall but lost in the Democratic primary.

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