Wall Street Cribs: NYC Edition
If you’ve spent any time here on WSO, you surely would have noticed that starting a career in finance is not easy. The competition for jobs is fierce to say the least, and once you get in its no cakewalk. Being an analyst isn’t fun and the higher up the ladder you get you realize life isn’t a hoot either. Be it from the countless hours of banking or the sleepless nights of a trader, the pursuit of “baller” status is full of trials and tribulations.
But chin up little monkey, all is not lost.
Before you throw in that towel, here’s a quick reminder why you’re in the game, and the perks you might (or might not) get if you persevere.
In no particular order, I give you the top banker cribs:
With neighbors like Sandy Weill, Daniel Och and a host of other Goldman MD’s and partners, this place has become a veritable fortress for financiers. Third point’s Daniel Loeb lives in the $45 million penthouse he bought in 2008.
Schwarzman owns the former apartment of John D. Rockefeller Jr. (and then Saul Steinberg’s), a major trophy in WASPdom. The Blackstone CEO’s pad has 37 rooms and was at the time the most expensive apartment in New York; he paid $37 million for it back in 2000. Henry Kravis is a former resident as well.
The former Guccione (of Penthouse fame) Mansion, the 25,000+ sq. ft. home was witness to several orgies and was rumored to have had moldings of T&A all over the place. Falcone is said to have since removed them.
The trading legend purchased his mansion for $17 million back in 1999. After a $10 million renovation, the Caxton chief now enjoys 12 baths, a soundproof media room, and 2-story master bedroom. It is also rumored to have a panic room built to withstand chemical weapons attacks.
Another address that may not be “cool” since it loses points for being north of 86th street, 1185 Park is home to Jamie Dimon and family, the JP Morgan CEO combined 2 apartments in the building with an estimated price of $10 million in 2004.
If this doesn’t give you the push you need, at least it gives you a chance to network like a stalker.
fuck banking. i want to be the guy SELLING these properties.
lol...good one !
lol so true, how much % do brokers get?
let's say we have around 200 mil worth of properties here, at a really low 1% that'd be 2 million... Sweet.
was thinking about doing that actually, maybe next time..
Not to start any city wars or anything but am I the only one that thinks a suburban house near a smaller city is a lot more appealing? At 10% of the cost? I guess with that much money cost isn't a factor but still...
I certainly think that an issue here is that it's NYC...right? The options for an easy suburban life don't seem to be as abundant near NYC as they are in smaller cities. Of course there are options, but I think for most people it becomes an issue of opportunity cost. If you can't afford to send your kids to private school in the city, than many people leave for the burbs to have decent schools with decent neighborhoods and decent amenities so you can spend time with your kids as they grow up. The issue there is that commute times increase and you begin to lose what little time you have with them...and in an industry like finance and the long hours that most people put in you would basically be up before your kids went to school and maybe catch them before they go to bed. Obviously that might be more extreme than some cases.
Personally, I just don't find owning a house appealing at this point in my life. I literally have a friend who has been dying to buy/rent a house so he can wake up Saturday morning and mow the grass because he "loves it". Are you fucking kidding me? What sane 26 year old kid wants to cut the grass every week or every other week? I really enjoy sleeping in a bit on Saturday morning, hydrating my looming hangover away and watching some college football or finding a fun activity to partake in. Mowing has never been fun to/for me.
I guess I am at the point where I am still selfish and want my life (I'm single with no kids) to be based almost entirely on convenience. I will live in a condo until I have a family, then I will consider buying a nice house in a really nice neighborhood. If I have enough money, it will likely be some type of water front property (I currently live in the SE), where I can afford to have someone come cut my grass and clean my pool for me.
This is the same reason I don't have a dog, as much as I would like one. I don't know where I will be in 2 years and what my schedule will be like and not only would it be ultra selfish of me to have an animal that sits at home by itself for most of the day, or gets put in a kennel when I travel, it would just be down right inconvenient. I had a dog in college and for all intents and purposes, it was like caring for a baby. You have to make your schedule around feeding and walking it (unless your roommate(s) are around to help) which makes it hard to do the random fun things one might like to get into while in their youth.
Regards
I think you should have posted their SUMMER houses in the hamptons, you are showing squares in the city.
Taken right from that E! program that they've been airing for well over a year now. I haven't even been in the country and I know about it...
haha yeah, even if it was 1%, that's still a lot of money. it's definitely much higher than 1% for sure. it takes a real salesman and entrepreneur to take a property for what it's REALLY worth, upgrade it, then flip it and pitch it to rich folks for a WAAAAAY overvalued price. It's like the guys who "invented" designer water - sell shit you can get for free at McDonalds for $50 a liter.
If money were not an object, I would live in the time warner condos. Sick location and amazing amenities.
I have to say Brucie Bruce's house is sweet. Who has a TWO-STORY master bedroom?
I know man! I was like wtf when I first read that. Wonder what it looks like.
At 3.5% that'd be 7 million in commission, shit you'd be making more than an MD...
EDIT: I would still rather be an MD though..
Pretty sure a normal commission is about 6%...I don't know about these high-end places ones though.
6% is common but I think for the higher end properties like this its closer to roughly 3.5%
How come John Paulson's house is not here?
That's because I don't know where it is, got his Hamptons pad though so stay tuned for that.
Totally understand and tried to work around that with interior shots but most of them were copyrighted. Didn't want Patrick to get calls from photogs/designers throwing hissy fits.
?
I agree with Midas...its a matter of status and preference. The largest estate in NJ/CT, as a primary residence, won't attract the same WOW factor that a sprawling residence in the city will. The commute is of course a consideration as well.
I don't know man. I've never lived in a city like NYC but I can't even tell where half of those start and the next guy's begins. For all I can tell, they have a studio. From the inside, now that is different. I agree on the commute though.
Now if you want just straight ridiculous, go to India. I'm sure a lot/all of you have already seen it, but for those who haven't, its a 27-floor high rise for one family.
http://current.com/news/88998590_the-worlds-first-multi-billion-dollar-…
[quote=cclow]I don't know man. I've never lived in a city like NYC but I can't even tell where half of those start and the next guy's begins. For all I can tell, they have a studio. From the inside, now that is different. I agree on the commute though.
Now if you want just straight ridiculous, go to India. I'm sure a lot/all of you have already seen it, but for those who haven't, its a 27-floor high rise for one family.
http://current.com/news/88998590_the-worlds-first-multi-billion-dollar-…]
Yeah, that certainly meets the definition of epic.
Regards
Update:
http://www.telegraph.co.uk/news/worldnews/asia/india/8063385/Indias-ric…
Regards
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