Jeff Ostrowski
Alexandra Clough
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Hearst widow pays off loan on Manalapan manse
Looks like Veronica Hearst has escaped the financial jam that led to the foreclosure sale of her Manalapan mansion earlier this year.
Hearst’s Manhattan co-op recently fetched an eye-popping $36.5 million, netting her “more than enough” to pay off the $23.5 million she owed the lender on the Manalapan property. That’s according to Hearst’s attorney, Al LaSorte of Shutts & Bowen in West Palm Beach.
Hearst, widow of publishing heir Randolph Hearst, had fallen behind on a $47 million mortgage from New Stream Capital. Back in February, New Stream Capital paid $22 million at a foreclosure auction for Hearst’s 28,000-square-foot mansion. That’s it below.
In March, Franklin L. Haney paid New Stream $23.5 million for the home at 1100 S. Ocean Blvd. That cut in half the $47 million Hearst owed New Stream, LaSorte said.
And the latest property sale was enough to settle her accounts with New Stream — and have some cash left over, he said.
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