Lenox Terrace

Ellen Hauer, a 30-year employee of the reclusive Olnick family's Hampton Management Company, has pleaded guilty to stealing more than $1 million from her one-time employer in exchange for 3.5 to 10.5 years in prison, according to The New York Times:

Ms. Hauer, 52, who served as controller of the Olnick Organization from 1997 to 2008, told prosecutors that she "used the money to pay credit card bills for Las Vegas trips, Caribbean cruises, jewelry, furs and Victoria’s Secret lingerie."

The plea deal requires Ms. Hauer to transfer all of her assets, including cash, an interest in four racehorses, a 401(k) account containing $39,800 and all of her American Express Rewards points, to her employer, Hampton Management. The company manages the building that is home to Gov. David A. Paterson and Representative Charles B. Rangel.

Never heard of the Olnicks? Aside from industry insiders, pretty much no one had until July 11, when The New York Times revealed that, amid an affordable housing crisis, Congressman Charles Rangel had been hoarding four rent-stabilized apartments in the Olnick’s Lenox Terrace complex in Harlem.

It may be hard to believe that in a city so consumed with itself, so dedicated to narcissism and self-love, money and power, the Olnicks would shun the spotlight. But do a Nexis search on the family name, and aside from some clips in Real Estate Weekly—which faithfully publishes personnel and small lease announcements—you’ll find nary a hit until this month.  read more »