We’ve been so focused on nationwide associate pay raises that we’ve been neglecting New York City — where lawyers have always earned top dollar. And where they enjoy real estate spoils reflecting their high compensation, which we regularly profile for Lawyerly Lairs.
One of our favorite sources of real estate porn in the deliciously gossipy New York Observer. Here are a few recent “Manhattan Transfers” items, all of which involve lawyers:
1. Crusading Lawyer Inks Sweet $2.4 M. Deal for Harlem Townhouse
The Erin Brockovich of big-sugar class-action lawsuits has bought a stately 108-year-old townhouse on West 137th Street (at right), a leafy block near Harlem’s Strivers Row.
Moral of the story: If you’re a law professor with dreams of a million-dollar home, you need to marry well. Or be Feldsuk.
In addition to having a million-dollar home, Professor Cleveland is also highly attractive, a former Rhodes Scholar, and a former Supreme Court clerk (for Justice Blackmun). Could a life be any more charmed? (Although that Manhattan-Austin commute is probably a real pain…)
Update: Per this comment, and as confirmed by this press release, Professor Cleveland — who is “a fantastic teacher,” we’re told — has been snapped up by Columbia. Very nice.
2. Saint David’s Buys Headmaster Two Philip Johnson Condos for $2.99 M
The Saint David’s School, an all-boys prep school, just purchased two adjacent condos for a total of almost $3 million. These apartments will be the home of their headmaster. Who says schoolteachers can’t live well?
One of the principals in this deal is a lawyer: Willkie Farr & Gallagher partner Xavier Dieux is selling one of the two units. Presumably Mr. Dieux is trading up; he was probably living below his means in his condo at the Metropolitan.
3. Davis Polk Stays At Home
This item, reporting on Davis Polk & Wardwell’s 650,000-square-foot renewal at 450 Lexington Avenue, concerns commercial rather than residential real estate. So it may lie slightly beyond the jurisdiction of Lawyerly Lairs.
But it is interesting to see how Davis Polk is perceived by the outside world. The Observer refers to DPW as “cultivat[ing] its reputation as the Cravath, Swaine & Moore for happy people.”
Is that view of DPW accurate? Feel free to debate in the comments.