Ground Zero Bargain Mosque

The New York  Post reports today that one or more competing commercial real estate buyers were willing to pay more than three times the $4.8 that Sharif al-Gamal paid for the property.The Post states:"New York developer Kevin Glodek was livid when he found out the building sold for a fraction of what he offered in 2007 -- $18 million cash -- and wondered whether money changed hands under the table, according to sources close to the deal.Glodek and his partners wanted to build a 60-story condo tower with retail space on the Park Place site, had inked a purchase agreement and even had keys to the existing building, according to sources and documents obtained by The Post."This raises -- once again -- questions.about the legitimacy of the buyer and the seller, Kukiko Mitani, the widow of Melvin Pomerantz. By selling for an official price of $4.8 million, she would only have to pay taxes on the smaller amount. One can speculate whether there were other financial...(Read Full Post)

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