Icelandic millionaires Jon Asgeir Johannesson and Ingibjorg Palmadottir have put their luxury Manhattan apartment on the market for USD 25 million (ISK 2.9 billion), according to the New York Times.
The couple bought the apartment in 2006 for USD 10 million, and the loft apartment above it several months later for USD 14 million. The newspaper says they paid up-front and got an architect to join the two apartments with stairs. Both apartments are said to have large balconies and overlook Gramercy Park.
It is not clear whether Jon and Ingibjorg will be able to sell the apartment without making a loss; but property prices in Manhattan have so far withstood the recession better than most places.
Jon Asgeir’s Baugur Group has made the headlines over recent weeks for the serious economic trouble it now finds itself in.
@Alexander E.
indeed, it would be a good idea for him, and the rest of his money he could bring to North Korea :-)
there’s only one place across Europe where one must be a robber/druglord/raper/insider trading master/brainless/etc for surviving….
I hope Mediterranean Sea’ll inglobate bullshit until the beginning of Alps :)
@ Alexander E
I also mix our posts. Given that you where here first – you keep the name.
From now on ill sign with my initials: c.a.k
Done dealididio?
@ Niels
Be careful! Your dream might come true.
Jon comes and gives 30 millions – and becomes national hero, wins election and …double his money :)
At least if I were him – I would do that.
Except money he would get protection as PM or member of Althingi….
@ C.Alexander
I already add “E” to my “Alexander” signature. But still is mixing your and mine posts by myself :(
What if I add a title – like Alexander of Macedon – so people could see the difference? :)))
PS. As to the rotten vegetables – this is common problem for ALL Icelandic retail business. Sometimes business culture here can really boil the blood :)
But taking into account that much of this “retail” is made by kids – it is not that bad really. And I hope that kreppa will teach even most stubborn store manager to teach his staff to keep stuff in good order :)
@Alexander E.
I very much agree. Probably Jon does not feel so safe anymore and with Baugur in bankruptcy his financial empire might start to crumble. He probably wants to cash in on his house and move the money to some Cayman account.
BTW I do have a dream…a dream about one of these outbound vikings returning to Keflavik airport with 2 suitcases full of money.
Upon his arrival he says: “Listen icelanders, I am SORRY, SORRY that I basically scr@wed you and everybody else. I am SORRY that I was only motivated by greed, SORRY that I always wanted more, SORRY that I forgot the values of decency and modesty which my parents taught me, SORRY that people like me caused this collapse which ruined the economy of an entire country, ruined your prosperity and your future.
SORRY for taking part in shady political games, in favoritism and nepotism….
Here I have all the money that is left to me, 30 million USD and the papers for my appartments in Marbella, NYC and Paris.
Dear icelanders, I am giving all this to you asking for your forgiveness…please use this money to a better avail than I did: give it to people who are facing the loss of their house, give it to people who cannot properly feed their children anymore, give it to schools and teachers, to handicapped people and people in need of medical treatment.
And after this, regard me as an honest person, allow me to live in your middle once more, as an ordinary, proud and decent icelander…..
Unfortunately his will remain a DREAM :-)
Next time, On your way to Bonus, think of the nearly rotten vegetables and fruits that are being sold there and consider if you want to support something that don’t values common people nor their basic interests.
@FM
I think it’s not about making money but more about securing them. Apartment is very easy to track and freeze as collateral. With cash people have much more flexibility if they have to run and hide. And Jon might have to do this very soon. Too many people mad it him. And I don’t mean people of Iceland. I mean those who were dealing with him and lost money because of it…
Well..there is a chance that he just wants to get as much cash as possible from his abroad property and assets and pay in back to Iceland. :)))) At least 0.0000001% is also a chance, right?
Well, It was written he bought 1 apartment for m$ 10 and 1 for another m$ 14 which makes 24 m$ all together. After constructions (the unification of both apartments) and some time (since 2006) it seems quiet OK to try to sell it for 25 m$. I can not see any “big winner” there.
Calm down people.
@ C. Alexander
100% agree with you, finally somebody sees the truth of this “change”.
@Brad
Also very good comment too.
@ C. Alexander:
I agree with most of what you said above, except the Bónus part.
Icelanders cannot boycott Bónus at the moment. About a year ago I tried. Krónan is “the other really cheap supermarket” and a much nicer place to shop; but my weekly bill instantly increased by 30-50 percent. The difference was just too great and I grudgingly went back to Bónus with its Euroshopper products and its discounts on meat and fish.
Sorry, but I can’t afford to shop politically during the kreppa…
Lion in the North & Aggi – who told that there was a revolution?
There never was one.
How much is changed? What has happened to the old leaders? How many new forces have we seen come into Althingi to be put in control? Who has taken responsibility and who takes the blame? Where is the investigations? Where is Oddson? Where is Geir? Where is the bankers? Where is the investigations? Where is the changes? And what did Iceland hope fore a month ago and what has happened?
As said, there never was a revolution.
Icelanders couldn’t even boycott Bonus.
Ólafur and fishy. Be real. Either we stay within legal framework or start shooting Mexican style. Before a person is arrested and his property confiscated – there should be criminal investigation and court’s decision, right? So either someone sues Jon and Ingibjorg for specific criminal offense or it is just a talk.
But I think they are selling stuff to get rid of assets and convert as much as possible into cash – as it’s more convenient to run with cash ;)
Indeed the revolution should not stop, at this moment is just lots of sweet talk for the new ” leaders”, no real actions and the nation keeps paying high interests and the deb of the ” winners” F**k that , im not paying anymore the f***ing bank, they should charge The Baugur Ground or Jon, I am not (and in this I include the nation also) no f***ing punch bags for this maggots !!
Perhaps Oddson will buy this appartment :-)
I agree with every comment her, even with fishy this time, just one coment on ólafur’s post, UNFORTUNATELY David Odsson IS NOT going any where, this rat does what he pleasses and this “NEW” goberment is just giving people what they want to hear but they are not going to do ANYTHING, David is still in charge of his kingdom, and if he goes, will be just on a PAID vacation.
The entire gang of so-called entrepreneurs (you know who they are)created financial houses to use as personal piggy banks for their own stupid delusions of grandeur.
However,it would be petty of me now to hope that they suffer a little as a consequence of their arrogance and greed.
No……I hope they suffer a lot…..and maybe have to spend some time shovelling steypa or gutting fish just to make ends meet.
The revolution should not lose momentum quite yet….there is still work to be done.
@Fishy, Olafur,
I think it is a slap in the face of ordinary icelanders who are suffering from financial woes that one of these outbound vikings even tries to make a profit from selling his luxurious appartment.
It is hard to understand why still no legal proceedings have started against these people. They have a lot of questions to answer: their shady dealings have brought about grave problems for ordinary icelanders.
I do believe that even Bonus overcharged people: even here prices for basic products were much higher than in continental Europe.
Right on the mark Ólafur
In many countries the authorities cease the assets of mafia/druglords .
People like Jon Asgeir are no better .
Now is time to make them pay.
As I posted once before, in Iceland Baugur/Hagur control around 60% of all food and around 40% of clothing & consumer goods.
Did they give us a good deal?
Sure they kept slightly cheaper than the competition.
BUT, if you think about the buying power that Baugur/Hagur have…. We were/are still VASTLY OVERCHARGED .
Jon Asgeir made excessive profits using the Icelandic people as collateral and then, when his risks were eventually realised, the Icelandic people inevitably took the loss. After David Oddsson has finally been removed from the Central Bank, the protestors should turn some of their attention to these business leaders. Maybe they should give some of their enormous personal assets back to the Icelandic state which originally served as their collateral…