Male, born 1925

Associated with the firm network

Mastro Properties


Professional History

Owner, Mastro Properties, Seattle, WA, 1980s-c. 2009; it last office was located at: 510 Rainier Avenue South, Seattle, WA 98144-3046; tel: 206.323.5393.

Personal

He married to Linda Mastro (born c. 1950), who was 25 years his junior.

The 2008 Real Estate Crash caused a number of large developers to go broke, but Michael Mastro's company, Mastro Properties, was one of the biggest bankruptcies in Western Washington history. Mastro Properties claimed $587 million in liabilities (against $249 million in assets) on his Federal Bankruptcy Court filing of 08/2009. Mastro was a developer and landlord, who specialized in office parks, suburban sub-divisions and low-rise apartment buildings. More than $100 million was owed to investors or institutions (such as the Italian Club of Seattle) who may never be repaid. Lawyers expected that settling the case could take in excess of 5 years. In late 07/2011, Bankruptcy Judge, Marc Barreca, filed a court order for incarceration of Mastro and his wife for failing to turn over two jewel-encrusted, multi-carat rings worth $1.4 million and to appear for a bankruptcy hearing. Their rented house in Palm Desert, CA, was empty, and they could not be found as of 07/27/2011. Speculation was that they had fled the country.


PCAD id: 5459