NEW YORK (

TheStreet

) -- Dominique Strauss-Kahn, the former head of the International Monetary Fund facing multiple sexual assault charges, was released on bail from Rikers Island Friday.

According to multiple media reports, Strauss-Kahn has been released and is now staying in corporate housing maintained by the security company guarding him. He was originally supposed to stay in his wife's apartment on the Upper East Side of Manhattan, according to the

Wall Street Journal

, but that arrangement didn't work out. A

New York Times

report said the apartment building in question wouldn't accept Strauss-Kahn's presence, citing a court official.

Dominique Strauss-Kahn, the former head of the IMF, appears in a Manhattan courtroom on Thursday

The terms of Strauss-Kahn's release called for him to post $1 million in bail, and provide $5 million in collateral, as well as be under constant electronic surveillance.

The 62 year-old Frenchman was indicted Thursday on seven sexual assault charges related to an incident in a New York City hotel room last weekend.

Strauss-Kahn

resigned

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as managing director of the IMF on Wednesday, saying he did so with "infinite sadness" and proclaiming his innocence.

"To all, I want to say that I deny with the greatest possible firmness all of the allegations that have been made against me," he said in the statement.

The

WSJ

article quoted Assistant District Attorney John McConnell as saying that Strauss-Kahn's lawyers indicated he would be housed "at a temporary location in an apartment in lower Manhattan near Ground Zero," and that this location would be a temporary solution, roughly "three to four days."

--

Written by Michael Baron in New York.

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