Financial Woes: Tony River House Pad Goes To Foreclosure Auction, the Dogs

Zoe Rosenberg

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]