Deutsche Bank’s Vrablic Buys Convicted ex-REFCO CEO’s 1001 Park Ave. Co-op
Rosemary Vrablic, the Managing Director of Deutsche Bank’s U.S. Private Wealth Management (PWM) business, is the proud owner of a duplex penthouse co-op apartment at 1001 Park Avenue.
The apartment formerly belonged to convicted felon and former REFCO CEO Phillip Bennett and his wife Valerie Bennett. The couple handed their penthouse pad over to the federal government in a connection with his 2008 guilty plea to a host of white collar criminal charges from his role hiding hundreds of millions of dollars in REFCO debt from the company’s shareholders and auditors.
When his money laundering, securities fraud, wire fraud, bank fraud, and related criminal charges were discovered in late 2005, Bennett “seven Ferraris; a $20m plane; luxury homes and more than $29m in artwork”. Behind bards, Bennett’s only source of ‘income’ comes in the form of “mackerel or macks,” plastic pouches of fishies that Ft. Dix inmates buy at the prison commissary.”
Vrablic knocked down the price more than 27% from the original $5.9 million listing when it hit the market in March. One month after the listing price dropped to $5,125,000 in August, Vrablic negotiated a $825,000 price reduction to seal the deal.
The grand duplex is surrounded by outdoor terraces on both floors, and boasts views to the west, south and north. The apartment’s monthly maintenance was listed at $4,412.
The 16-story pre-war co-op has only 21 apartments. According to The New York Times, one of the original shareholders in the building was “Lillie P. Bliss, the art collector who was one of the founding officers of the Museum of Modern Art in 1929.” The penthouse now owned by Vrablic was part of the triplex that Bliss owned at the time.
Vrablic’s new neighbors at 1001 Park Avenue include:
- Lasik eye surgeon Robert Ditkoff
- Journalist Nancy Tilghman who paid $2.25 million for her apartment in June 2006
- Caroline Morrison Lowndes, a member of the Tindall Corporation concrete dynasty
- Jeweler Ralph Esmerian
- Deborah and Ivan Moskowitz. He is a real estate lawyer at Schiff Hardin, with considerable commercial leasing experience.