The $200,000 Water Line Break At Sky Las Vegas: Who is Aaron YASHOUAFAR, Robert Paisola Reports Live for Thompson Reuters Business Network USA

Las Vegas Nevada United States of America
For International Wire Release
August 31, 2010
By: Robert Paisola
For Immediate Release

The $200,000 Water Line Break At Sky Las Vegas, Who is Aaron Yashouafar,  Robert Paisola Reports Live for Thompson Reuters Business Network USA

"All that I can tell you sir is that every single elevator circuit board from the 20th floor down is blown" he said  When asked when the elevators in this 40 plus story building would be working, he stated "I don't know" We further questioned "what is the extent of the damage from a dollar standpoint "At least $30,000 per elevator" he stated.  Oh My God.. Here we go again.. I thought...  This was the start of the next crisis at the "Luxurious Sky Las Vegas"

I quickly did the math in my head and began to realize that ALL of  the three main elevators were  down... the cost to simply fix the damage, "At least $90,000"  This should not be a problem, I thought, surely the Sky Las Vegas Homeowners Association  had enough funds on reserve to pay such a paltry sum of money, but then the computer began to turn in my head and it quickly dawned on me that this was the same property that we have been covering worldwide, run by Prescott Management and Christine A. Gibbs.  THIS WAS THE SKY LAS VEGAS!  They were the subject of our article a month ago entitled  "Where is my $900,000.00 ?

Since that story ran, we have received HUNDREDS OF COMPLAINTS of people associated not only with THE SKY LAS VEGAS, but THE PRESCOTT MANAGEMENT COMPANY, AND the developer,
Milbank CEO Aaron Yashouafar.

This was a joke right?

As of this point The Yashouafar brothers, Aaron Yashouafar and his older brother Solyman Yashouafar had largely been off of our radar, other than the fact that the forensic accountant that we hired to review the financial logs and  transactions stated that there was some "Highly Irregular Activity" going on at Sky Las Vegas, but we were going to hold off on reporting this... until today.

Upon arrival at The Sky Las Vegas, one was greeted with the following signs held up by surgical trauma tape:

What in the hell was going on?

We began to probe..  Then magically, as if from god, we received this memo from The Queen of The Sky, Christine A. Gibbs, The one we have been telling you about in our previous stories.. The lady from Chicago who made $130,000 to watch the flowers.. remember that article?
"Late yesterday (August 31,2010) evening, Sky experienced significant loss of all the buildings air conditioning systems, as well as the use of all tower elevators due to a ruptured condenser line which caused damage and flooding to common areas and elevators"

A Ruptured Condenser Line? What is that? "It is the main water line to the heating and cooling system and it broke on the 20th floor, we were told.  "The line break poured tremendous amounts of water on all areas below the 20th floor."  Were there any units damaged? we inquired?  No, we were told...  Hmmm... We began to investigate.

We were fortunate enough to speak to a representative of the Las Vegas Carpet Cleaning Company, LOVE YOUR CARPET, who we caught at the front desk gathering a plethora of unit keys to fix.  "We have been here so long it just seems like an impossible task, he stated as he wearily took the 10 keys from the front desk and trudged toward the service elevator (photo below) , which was the only elevator in this 40 plus story building that was working.

Wait a second.. The memo said that the damage was limited to" common areas and elevators" something was not right ? Then we ran into a husband and wife who were talking about the damage in their unit, and yep, they confirmed just what we thought, the damage was much severe than the memo from Christine A. Gibbs (above) lead the owners and residents to believe.  WHY?

This made no sense... then we were told by an employee (under complete confidentiality) of the property that the damage was very serious and that there were worries over money to pay for this mess, As Gibbs Says ("Show Me The Money Honey's") track 48773-2  and we do not want to scare the owners. Ahhhh.. Now it made sense.  But if Sky Las Vegas has the $900,000 in back fees it was claiming (just listen to the tapes!) they could easily deal with this, but a certain member of the HOA Board made a sweetheart deal, and was permitted to go delinquent in excess of ONE HUNDRED FIFTY THOUSAND DOLLARS.... Could this be the same man that we read about in New York, who was given the title by the Newspaper The Village Voice, on March 16, 2010 as "New Yorks Top Worst Landlords" Is this the SAME Aaron Yashouafar that not only sits on the Board of Sky Las Vegas, but is the slumlord described by the Village Voice... It Was!!

"... And the developers, headed by AARON YASHOUAFAR of Millbank Real Estate, who was just recently recognized by a major New York Newspaper, The Village Voice, on March 16, 2010 as "New Yorks Top Worst Landlords"


Landlord: Aaron and Solyman Yashouafar (Milbank Real Estate)

In November 2006, the Yashouafar brothers—two Los Angeles real estate developers better known for signature luxury high-rises in Las Vegas and the redevelopment of historic commercial buildings in downtown L.A., Oklahoma City, and other Western venues—ventured into the Bronx.

They were used to far-flung adventures. Solyman, the elder, fled the Iranian Revolution in 1979 and landed in Southern California. Younger brother Aaron had come to the U.S. in 1977 and attended Beverly Hills High School; he entered the family's real estate business when he was 16.

Their high-flying portfolio is based in the Sun Belt, but the brothers, who control a family-owned company called Milbank Real Estate, got a $35 million loan from Deutsche Bank and used it and subsequent loans from other banks to buy about 20 Bronx buildings containing about 1,000 apartments.

Many of the buildings, like 1576 Taylor Avenue in Parkchester, are in rough-hewn parts of the borough. And the buildings themselves already suffered from blight, safety violations, and both abandonment as well as squatters.

Far from trains and even, in some cases, from bodegas, they were nevertheless billed by the Yashouafar brothers as "positioned for significant gentrification."

The brothers' pitch to investors was to call these buildings "Bronx Collections I & II" and refer to them as "multi-family assets" that had "poor prior ownership with a history of neglect."

Under Milbank, the plan was that "revitalization would occur by infusing the capital necessary to improve the condition of the buildings, as well as aggressively pursuing the collection of past-due rents—allowing for an improved tenant base and increased income from the properties." Milbank further assured investors that it "provides full-service management" that covers, among other things, "evictions, collections, and other legal general matters."

Things appeared to have fallen apart even before the company could put into place its publicized eviction strategy. The company (Aaron YASHOUAFAR) still claims (online, at least) to own 18 properties in the Bronx, but at least 13 of its original 20 are actually in foreclosure proceedings, according to court papers.   Milbank's top execs couldn't be reached for comment.

Quotable: Milbank CEO Aaron Yashouafar, recalling for another publication his romance with property: "I loved it. When the other kids were going to McDonald's and Burger King after school to have fun and drink milkshakes, I'd drive to our office and take care of business."

What it's like to live there: On a recent frigid day in the Parkchester neighborhood, a giant boiler-services truck is parked outside 1576 Taylor Avenue, pumping emergency heat into the building. It's too late to pump financial life back into the place; the bank foreclosed on the Milbank building in 2009.

Right down the block, Milbank's building at 1535 Taylor Avenue is not in foreclosure, but it's in constant hot water—if only figuratively: The 41-unit building (formerly controlled by notorious landlord Frank Palazzollo) has 251 unresolved violations at last count.

That number doesn't quite capture the ambiance of the place: When it rains, the leaky roof discharges water onto the top-floor apartments. Luis Delatores and his wife, Erica LaGuerre, recently moved with their newborn son from their decrepit fifth-floor apartment down to the second floor after she fell down soggy stairs and badly bruised her back.

IS THIS IS THE MAN THAT SITS ON THE BOARD OF THE SKY LAS VEGAS..... YEP, NOW THE PIECES ARE COMING TOGETHER!  So we called one man we trust, DONALD TRUMP, and we will report our conversation with Mr. Trump as soon as we complete the transcription.  We also have agents in NYC gathering all of the court data against the  YASHOUAFAR BROTHERS,

Now it was all coming together... these are the same guys who screwed the people in New York, and now they are doing it in Las Vegas. What in the hell are the owners OF THE SKY LAS VEGAS doing electing these men TO REPRESENT THEM ON THEIR BOARD OF DIRECTORS?  IT IS ALL A SCAM!  PAY GIBBS 130,000 TO SHUT UP AND KEEP THE PEACE AND EVERYTHING STAYS UNDER THE RUG.... ITS ON THE TAPES AMERICA...

We are going to bring you live interviews with vendors, renters and the actual bankers who did these deals.  We are going to pull the loan files and search for any  hint of fraud.  When we find it... We will lay out the case for the US ATTORNEY, just as we have done before.

We also will present emails that were tendered to an owner who chose to fix the growing mold problem, wherein he was threatened by Christine A. Gibbs, that the proper chain of command was not followed to re-mediate a mold issue and fix a water leak.  We can promise you that if this is true, that this issue will be broadcast all over the world and if they choose to have an "Emergency Board Session" to determine sanctions against this owner, we will be on-site with cameras broadcasting LIVE AROUND THE WORLD.  BAD BAD BAD move Gibbs et. al.  and if the YASHOUAFAR BROTHERS are involved (because they are on the board.... all hell will break loose the moment that they pass through the doors. That is a GUARANTEE. The following people will be world famous.. all over the world including CNN INTERNATIONAL.

          M. Aaron Yashouafar
Vice President:
David Pourbaba              
Maryrose Bianchi            
Charolette Richards
Director: Tom Duncan     

Ok..Here are a few quick shots of what hell on earth is like when you condense 40 plus floors of people to one elevator. Total Chaos...... (Fire Code?)

and no air conditioning in the hallways! and water everywhere!

 And this is the way life is a SKY LAS VEGAS.

Community Association & General Manager:  Christine A. Gibbs Phone: (702) 669-3160 begin_of_the_skype_highlighting              (702) 669-3160      end_of_the_skype_highlighting
Fax: (702) 669-3165
Assistant Manager I:  Melissa VaughanPhone: (702) 669-3160 begin_of_the_skype_highlighting              (702) 669-3160      end_of_the_skype_highlighting
Fax: (702) 669-3165

Assistant Manager II: Erin Re
Phone: (702) 669-3160 begin_of_the_skype_highlighting              (702) 669-3160      end_of_the_skype_highlighting
Fax: (702) 669-3165

Security Supervisor:  Terry ZaslawPhone: (702) 669-3150 begin_of_the_skype_highlighting              (702) 669-3150      end_of_the_skype_highlighting
Fax: (702) 669-3167


Chief Building Engineer:  Gabriel MontenegroPhone: (702) 669-3160 begin_of_the_skype_highlighting              (702) 669-3160      end_of_the_skype_highlighting
Fax: (702) 669-3165
Building Engineer:  Charles Harris
Phone: (702) 669-3160 begin_of_the_skype_highlighting              (702) 669-3160      end_of_the_skype_highlighting
Fax: (702) 669-3165
Building Engineer:  Adrian Montenegro
Phone: (702) 669-3160 begin_of_the_skype_highlighting              (702) 669-3160      end_of_the_skype_highlighting
Fax: (702) 669-3165
Building Engineer:  Ernest Hood
Phone: (702) 669-3160 begin_of_the_skype_highlighting              (702) 669-3160      end_of_the_skype_highlighting
Fax: (702) 669-3165
Front Desk: (702) 669-3150 begin_of_the_skype_highlighting              (702) 669-3150      end_of_the_skype_highlighting
Front Gate: (702) 669-3153 begin_of_the_skype_highlighting              (702) 669-3153      end_of_the_skype_highlighting
Concierge: (702) 669-3151 begin_of_the_skype_highlighting              (702) 669-3151      end_of_the_skype_highlighting
Retail Lobby (street level): (702) 669-3209 begin_of_the_skype_highlighting              (702) 669-3209      end_of_the_skype_highlighting

SKY LAS VEGAS CONDOMINIUMS, INC. (DEVELOPERS' SALES OFFICE)Phone: (702) 877-4759 begin_of_the_skype_highlighting              (702) 877-4759      end_of_the_skype_highlighting
Web Site:

THE PRESCOTT COMPANIESPhone: (760) 634-4700 begin_of_the_skype_highlighting              (760) 634-4700      end_of_the_skype_highlighting
Web Site:

Insurance Provider: HRH of San Diego Insurance Services
Primary Contact: Robyn Thaw
Secondary Contact: Melinda Sanchez                         Email:
To secure evidence of insurance visit:

Pool Area
Enjoy the beautiful swiming pool, wading pools, spa, and cabanas 7 days a week from 7:00 a.m. until midnight.  To reserve a cabana at no charge, please contact the Management Office Monday through Friday 9:00 a.m. until 5:00 p.m. Pacific Time or contact the Front Desk after regular business hours.

Fitness Center
The Fitness Center and Locker Rooms are open 7 days a week 24 hours a day.  To obtain a locker key, please provide the Front Desk with your identification.  A water cooler and anti-bacterial wipes are available for your convenience.

Billiards Room
Enjoy the well-appointed Billiards Room 7 days a week from 10:00 a.m. until midnight.  Please see the Front Desk for access.

Banquet Facility
The spacious Banquet Facility is available by reservation through the Management Office.  This room and outdoor balcony may be used 7 days a week from 10:00 a.m. until 1:00 a.m.  There is a fee of $250 for use of this amenity.  This room is equipped with a retractable projection screen, 5-disk DVD/CD player, microphone and indoor and outdoor speakers.  Capacity 227 people.  Available seating ~ 64 chairs; 9 round tables. 

Projection Room

The fully-equipped movie theater is available for your enjoyment 7 days a week 24 hours a day.  Reserve your "movie night" with the Management Office during regular business hours.  DVDs should be dropped off in advance when the reservation is made.

Raquetball Court
The Raquetball Court may be utilized 7 days a week 24 hours a day.  Please see the Front Desk for access.

Business Center

The Business Center is available to Unit Owners and Renters to assist you with all your business needs.  Internet access, fax and copy machine service, as well as a Microsoft Office desktop computer.  Please see the Front Desk to utilize this resource. Available 7 days a week 24 hours a day.

Conference Room 

Schedule your next meeting in Sky Las Vegas' well-appointed Confrence Room.  Reservations are accepted in the Management Office for 7 days a week from 7:00 a.m. until 10:00 p.m.  A fee of $50 an hour is applicable in advance. 



If you are a bank or lending institution, we ask you to do your own due diligence prior to entering into any financial transaction with any of the parties.

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