This is the litany of big-money items that David J. Stern has acquired from the foreclosure disaster

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This is the litany of big-money items that David J. Stern has acquired from the foreclosure disaster

This is the litany of big-money items that David J. Stern has acquired from the foreclosure disaster

Some were placed for sale and some were not:

(according to NYT):

Brian Foley, a compensation consultant in White Plains, concluded that Mr. Stern made $17.8 million in 2008, including $12.64 million in compensation and nonrecurring benefits of $4.36 million. In the deal with Chardan, Mr. Stern and his affiliates were paid $93.5 million: $58.5 million in cash and $35 million after the transaction closed, according to government filings. In addition, Mr. Stern got a promissory note for $52.49 million to be paid out over the next couple of years.

In recent years, Mr. Stern and his wife, Jeanine, have bought nearly $60 million in real estate, mostly in Florida, property records show. Their Mediterranean-style home on Harborage Isle Drive, in a gated community in Fort Lauderdale, faces water on two sides and cost almost $14 million. Not far away, in Hillsboro Beach, the Sterns bought two waterfront properties for $17 million.

Mr. Stern also spent $6.8 million last year on a 9,273-square-foot apartment at the Castillo Grand Residences in Fort Lauderdale, part of a Ritz-Carlton complex. He and his wife own two homes in Beaver Creek, Colo.; one was purchased in 2001 for $4.975 million, and another bought in 2007 for $14.2 million.

His automobile collection may be worth $3 million, auto experts said; it includes a 2008 Bugatti, multiple Ferraris, Porsches and Mercedes and a Cadillac.

This being Florida, Mr. Stern also collects boats. A 108-foot Mangusta yacht, Lady J, is for sale at $5.9 million, Web postings show. It was replaced by a 130-foot yacht that cost about $20 million, according to an acquaintance who requested anonymity over concerns about Mr. Stern’s influence in the community.

Looks like he also collects Art – Check out inside his Mega 007 Yacht called Misunderstood:

belonging to an American owner who has had a number of other smaller vessels in recent years. In fact, he has had three previous Mangustas, stepping up in size gradually to this, the largest all-fiberglass open in the world.

Not done yet…From foreclosure king to burger king: Stern buys into Five Guys according to PBP

David J. Stern, whose Plantation-based law firm once handled the largest share of foreclosure cases in Florida, has invested in a company that owns franchises of Five Guys Burger and Fries.

Stern’s attorney, Jeff Tew, confirmed the investment this afternoon, saying it was made in the last couple of months.

Lets not forget the employee persk such as cars, houses, cel phone bills, vacations, gifts and jewelry – (Deposition Transcript of Kelly Scott of Law Offices of David J. Stern) –

20 Q. What kind of car did he buy her?
21 A. It was a BMW SUV.

<SNIP>

Q. Anything that –
4 A. Is it like personal or business or –
5 Q. Personal? Business? Anything at all?
6 A. Personal? The only thing that I was aware of that
7 took place there were the perks that certain employees received
8 from David Stern. If they were either dating him or they were
9 good friends with him, that they would basically do certain
10 things for him for certain files, in the sense of like David
11 Vargas. He would have certain perks from David Stern, like a
12 house, a car, cell phone paid all by David Stern.
13 And that’s all I know.

14 Q. Okay. So do you know of any other perks besides what
15 you said that Cheryl Salmons got? A car you said, for sure.
16 And her personal bills paid.

17 A. Yes. And cell phone.
18 Q. And probably her mortgage?
19 A. Yes. And vacations and gifts, jewelry.
20 Q. Who else would received gifts and jewelry or cars or
21 homes?
22 A. His girlfriend and David Vargas.
23 Q. Who’s his girlfriend?
24 A. At the time it was Christina Dell’Aguila

 

 

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2 Responses to “This is the litany of big-money items that David J. Stern has acquired from the foreclosure disaster”

  1. LizinSarasota says:

    There is a special place in HELL for you, Mr. Stern, for you and all your minions.
    You SOB.

  2. Will says:

    I invested in DJSP and lost everything. Thanks Mr. Stern! Glad to see you’re living well.

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