Loren Legarda found to own condo on posh Park Avenue in New York

(Updated 5/5/13, 3:46 p.m.) Re-electionist Senator Loren Legarda was one of the 20 senators who last year convicted former Chief Justice Renato Corona for failure to disclose properties in his Statement of Assets, Liabilities, and Net Worth (SALN). But Legarda has been found to own luxury property in New York, on Manhattan's posh Park Avenue, which was not ever mentioned in her own SALNs. A search of the online New York City Registry of Property Deeds confirmed that Legarda is the owner of residential condominium unit 10B worth $700,000, located at 77 Park Avenue in New York City. The deed itself, which GMA News Online downloaded, indicates that Legarda purchased it on May 9, 2006 from Frank Feinberg of Seattle, Washington. Park Avenue in New York has been called "the classiest street in New York City," and associated with that city's rich and famous. Legarda's SALNs Legarda claims that her condominium unit is the "Real Property-USA" mentioned in her 2011 and 2012 SALNs. However, according to the Civil Service Commission (CSC), the declaration of real properties must include the description, kind, location, year and mode of acquisition, assessed value, fair market value, acquisition cost of the land, building, including the improvements made. Legarda's SALNs did not contain any of the above information except for peso values that are far less than the $700,000 value in the NY Registry of Property Deeds.

 

In a statement, Biraogo said, “Mas masahol pa si Senator Loren Legarda kay impeached Chief Justice Renato Corona sa pagtatago ng yaman at pagsusumite ng palsipikadong statement of assets, liabilities and net worth (SALN)."

 

Legarda dismissed the revelation as "black propaganda," but admitted to owning the NY property. She added that she has a certification that the SALN she filed in 2007 included the New York property. But it was merely referred to as "other investment" in 2007, without the specifics required by the Civil Service Commission.

 

Legard stated: "[It was] described as 'Other Investment' in Annex A, in the amount of P7,175,000 equal to one-fourth of the total investment in the acquisition of apartment amounting to P28,700,000. Beginning December 31, 2007 up to December 31, 2010, the same property was also included on the SALN described as 'Equity in Real Property', also one-fourth of the total P28,700,000. As of December 31, 2011 and December 31, 2012 the New York property was also included in my SALN described as 'Real Property-USA'."  

According to SALNs compiled by GMA News Research, Legarda declared an "equity in real property (co-owned with brothers etc)" in the amount of P7.175 million under her "personal and other property." She indicated the same in her 2008, 2009, 2010, and 2011 SALNs.  The Civil Service rules state: "The declarant shall indicate a description of the real properties, whether it is a land only or land with building, a house and lot, condominium unit, or an improvement such as an extension or garage, and the like."

"Gutter politics"

 

Legarda said that the condo unit is being exposed because of her ranking in poll surveys.

 

"Hindi po ako magtatago sa anumang anomalya dahil ako po ay naglilingkod nang tapat sa bayan. Isa po itong black propaganda dahil di po ako natitinag sa pagiging number one," she said in a statement released Thursday. 

 

The senator also said it is "deplorable that people, possibly even some fellow candidates, could engage in such gutter politics, diverting people from the real issues." 

 

“It’s political season and I have survived to answer clearly all the black propaganda hurled against me. I challenge the source of all this to come clean. I ask other candidates to stick to what we as candidates can do to address the problems facing the country,” she said.  

Legarda's critic Biraogo has filed several cases before the Supreme Court, including a petition to ban members of political dynasties from running in the 2013 elections and for the executive branch to elevate the country's territorial claim over Sabah to the international court. He was also among those who filed a petition questioning the constitutionality of the Cybercrime Law. In 2008, he was accused of circulating a draft of a Supreme Court ruling on his petition questioning the citizenship of Rep. Jocelyn Limkaichong. —KG/BM/HS, GMA News