Former Nxivm office buildings sold in Colonie

The former offices of Nxivm in Colonie that were forfeited to the federal government as part of a criminal prosecution of the cult-like personal growth organization have been sold.

The three buildings at 447, 455 and 457 New Karner Road sold for $700,000 in a cash deal, according to Ben Romer, commercial director at KW Platform, which marketed the properties with Colliers on behalf of the U.S. Marshals Service.

The buyer was an affiliate of Rosetti Properties of Colonie.

The empty buildings total 19,300 square feet and have been on the market for about 10 months, initially starting with a list price that totaled about $1.4 million (though they were priced and available individually).

Due to the buildings’ condition and initial limited interest, the list prices were eventually dropped to a total of $987,000, Romer said.

He described the 5,600-square-foot building at 447 New Karner Road as being in “turnkey” condition but the other two need significant repairs.

It’s unclear what Rosetti Properties intends to do. Jaqueline Rosetti-Falvey, president, couldn’t be reached for comment.

“I think that ultimately the person that’s buying it has really good plans for bringing these assets to the next level,” Romer said, “and I think everyone will benefit.”

Nxivm (pronounced Nex-ee-um) was a purported self-help organization with offices at New Karner Road, just south of the intersection with Watervliet Shaker Road.

Its leader, Keith Raniere, also known as “Vanguard,” was arrested in 2018 following a federal investigation into a secret society within the group. He was sentenced in 2020 to 120 years in prison after being convicted by a federal jury of racketeering, sex trafficking and other charges.

A co-conspirator, Nancy Salzman, also known as “Prefect,” who served as president and co-founder of Nxivm, was sentenced in 2021 to 42 months in jail and fined for her crimes. She was released early from prison in 2023.

As part of her sentencing, Salzman agreed to forfeit several properties, including the office buildings on New Karner Road and a townhouse in Halfmoon.

According to the forfeiture order, Sara Bronfman, who also had a legal claim to the properties, will receive 20% of the purchase price from the proceeds of the sale, capped at $200,000. The payment is subject to offsets by the U.S. Treasury Department.

Bronfman and her sister, Clare, heiresses to the Seagram liquor fortune, were financial backers of Nxivm.

Clare Bronfman was sentenced in 2020 to 81 months in federal prison for conspiracy to conceal and harbor aliens for financial gain and fraudulent use of personal identification information. She was released early last May to a halfway house, according to the Times Union.