Arlene Farkas, the estranged wife of department store heir Bruce Farkas and partial owner of their contested River House apartment, will endure a public foreclosure auction of the beleaguered pad. The Daily News reports that Farkas has defaulted on over $6 million in mortgage payments on the palatial apartment that's been caught in an 18-year divorce settlement and on and off the market since 2011. Farkas was almost out of the hole when France was in talks to buy the 5,000-square-foot home for $7.8 million in July for their United Nations ambassador, but the building's co-op board, at the bequest of a snooty resident, ruled against entertaining an occupant with sovereign immunity who probably likes to party a little harder and more often than they found acceptable.
· Arlene Farkas ' tony River House apartment will hit foreclosure auction block following co-op board turn down [NYDN]
· River House Co-Op Review Upends Sale of Sad Pad to France [Curbed]
· All 435 East 52nd Street coverage [Curbed]
- foreclosure auction
- River House