Speculation is abound that former New York Governor Elliott Spitzer is trying to create an opportunity fund to buy such things as distressed condos in South Florida, single-family houses in Las Vegas, and land in California.
According to the New York Sun, Spitzer, 49, is reportedly courting private equity investors and pension fund managers in hopes of securing enough financial commitments to launch his own fund to purchase short sales, Real Estate Owned by the bank, foreclosures, and any other opportunities that exist on a bulk basis.
Spitzer, a former New York State Attorney General who capitalized on his aggressive prosecution of Wall Street lawbreakers into being elected governor, is the son of a successful Manhattan real estate investor.
Peter Zalewski is a principal with the consulting company Condo Vultures®LLC and a licensed real estate broker with Condo Vultures® Realty LLC. Peter can be reached at 305-865-5629 or by email at peter@condovultures.com. Be sure to check out Peter’s blog at CondoDump.com. Don't forget to sign up for our weekly Market Intelligence Report™.
Copyright © 2008, Condo Vultures® LLC
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