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NEW YORK CITY-Ponzi schemer James Nicholson’s Manhattan condominium, the Time Warner Center-Unit ST-52A, has been sold by the federal government to Lucky Charming Chad LLC for $6.75 million.

Before his arrest in February 2009, Nicholson had purchased the Columbus Circle unit in May 2008 for $8.5 million. The sale of the Columbus Circle unit is perceived as another sign of the decline of residential real estate property as a result of the recession. For the full story, go to Bergen Record.


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