Palatial Cadden Home Sold for $1.3 Million

By Walter F. Roche Jr.

The palatial suburban Boston home of a convicted former drug company owner has been sold for $1.3 million and half the proceeds will go to the federal government.
A deed filed today at the Norfolk County Registry of Deeds in Dedham, Mass. transfers the ownership of the 9,000 square foot former home from Barry J.. Cadden and his wife, Lisa to Michael and Lisa Ferdenzi.
Cadden headed the New England Compounding Center and his former home was subject to a forfeiture order approved by U.S. District Judge Richard G. Stearns. Under a negotiated forfeiture agreement half of the proceeds go to the federal government with the other half going to Lisa Cadden. She was never charged with any wrongdoing.
The Caddens owned a 35 per cent share of NECC and together they collected some $72 million from the company in the six years before the drug compounding firm was shutdown in 2012, according to court filings.
Stearns today approved an order officially authorizing the sale.Other documents filed in Dedham transfer Barry Cadden's interest in the property to the U.S. Justice Department.
Barry Cadden is currently serving a nine year federal prison sentence following his conviction on racketeering, conspiracy and mail fraud charges. He was one of 14 indicted in late 2014 following a two year investigation of the 2012 fungal meningitis outbreak which sickened some 800 patients. Over 100 of them have died.
The home had been on the market for nearly a year and the final sales price is less than half of the original $2.9 million asking price. The deed covers the main house at 13 Manchester Drive and two adjacent lots.
Real estate listings for the home describe it as "a magnificent private enclave" with five bedrooms, a heated salt water pool and a bocce lawn.
"Exemplary Craftsmanship and boutique materials highlight the construction of this fabulous estate," the listing states. (https://www.youtube.com/watch?v=MXZXykJXuh0)

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