Former MF Global Chief Jon Corzine Selling NJ Penthouse
Jon Corzine wants out of New Jersey.
The former chief executive of MF Global has put his Hoboken condominium up for sale with Halliburton Homes, which is listing the unit for $2.9 million.
Located in the Maxwell Lane towers, the “custom-designed penthouse” has two bedrooms, four bathrooms and full-length views of the Hudson River and the Manhattan skyline.
Corzine purchased the top-floor unit in 2008 for $3.26 million, according to Hudson County records; the property was last assessed in early 2012 at $822,400.
The unit requires a hefty annual tax payment of $38,000 a year, according to the Halliburton website, and a monthly maintenance payment of $1,700.
A spokesperson for Jon Corzine declined to comment.
Corzine became most well-known for his role at investment bank Goldman Sachs, where he rose to partner and co-CEO before being ousted just before the firm’s initial public offering.
He then ran for one of New Jersey’s seats in the U.S. Senate, where he served for five years before being elected the state’s governor. He was defeated in 2009 by current Gov. Chris Christie — at which time, MF Global investor J. Christopher Flowers tapped Corzine, a friend from their days at Goldman Sachs, to turn around the troubled brokerage.
In August 2011, MF Global issued a bond with a unique clause: That if Corzine were appointed to a position in the federal government, investors would be paid a higher rate.
The brokerage went bankrupt in October and reached a fever pitch after a trustee for the broker-dealer estimated $1.2 billion of customer funds could not be accounted for. A forensic investigation, as well as a handful of hearings in Washington, have attempted to trace the money during the firm’s final days, but customers still have not been made whole on their investments.
If the Hoboken penthouse gets snapped up, it looks like his days in (New Jersey) politics are surely behind him. In a 2010 interview following the gubernatorial loss, Corzine told the Jersey Journal: "I doubt very seriously that I'll ever be on the elected side of things again, but never say never."