Lawyerly Lairs: The Runaway Groom Plants His Feet
Remember James Ferraro, aka the Runaway Groom? He’s the multimillionaire trial lawyer who, back in January 2008, left his wife — Patricia Delinois, a well-known real estate broker — standing at the altar.
Their story ended happily: Ferraro and Delinois reconciled and eventually did get married, a few weeks later. And Mrs. Ferraro is probably very glad they did.
At least if she likes nice real estate. From the New York Observer:
James L. Ferraro, the prominent Miami trial lawyer who owns the Cleveland Gladiators arena football team, is finally buying a nice Manhattan apartment. This week he’s spending $8,175,000 on a penthouse at the glassy Park Imperial on West 56th Street.Even though Mr. Ferraro owns places in Miami and a 14-bedroom Martha’s Vineyard mansion, it had been years since he felt he could get a good bargain in New York. “I thought about it after 9/11, but I didn’t want to buy on a calamity—be a vulture on someone’s property; not that it’s bad karma, it is what it is. But this now is the best buying opportunity you’re going to have in the next 25 years.”
So, how much did he pay per square foot?
His seller is David Wine, the vice chairman of Related, the giant developer that built the tower. His penthouse, about 2,600 square feet, hadn’t officially been for sale.
$8.2 million divided by 2,600 square feet yields up about $3,150 per square foot. That’s a steep price, even by Manhattan standards. But….
“The views are ridiculous,” Mr. Ferraro explained from dinner in midtown on Monday, where he put down the phone to ask about the marinated calamari. “It’s an absolutely ridiculous view.” He said he’ll spend three to seven days per month there.
So can someone answer a question we’ve had for a long time: Why don’t more smart liberal law school graduates, instead of trooping off to Biglaw, go into plaintiff’s work? You get to stand up for the little guy, vindicate the rights of victims, and stick it to big evil corporations. And you get to buy $8 million pied-à-terres, which you live in for just three to seven days a month.
What’s not to like?
Awesome Trial Lawyer’s Awesome Penthouse [New York Observer]
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Comments
first
"Why don't more smart liberal law school graduates, instead of trooping off to Biglaw, go into plaintiff's work?"
Because it isn't very prestigious. There's a reason they call it plainTTTiff's work.
One of Ferraro's neighbors in the building: P. Diddy.
http://cityfile.com/profiles/sean-diddy-combs
That building is hideous, it looks like an office building.
2 - You can keep your presTTTige. I'll take the money.
because for every rich plaintiff's attorney, you have 1000 poor as dirt ambulance chasers
2, can you pay your rent with "prestige"? How prestigious is it to have LaTTTham as an ex-employer?
4 - Maybe that's because it IS an office building:
"This handsome, mixed-use tower was completed in 2002 and features the headquarters of Random House, the publishing company, and 111 condominium apartments on the top 23 floors."
http://www.cityrealty.com/nyc/manhattan/the-park-imperial-230-west-56th-street/14603
The guy went to Miami Law, so he probably didn't even have the option of going into BigLaw.
Fortunately, though, some baby was born without eyeballs, so he was able to cash in... 40% Bitches!!!
I don't understand why she would want to marry him anyway. He is nothing to look at and she could do a lot better.
Whatevs, nobody besides douchebags on this site gives a fuck what type of lawyer you are. $$$ in ladies and gents.
4, you obviously have never been to Manhattan.
So is the UES no longer the place to be for the ultra-wealthy in Manhattan? It seems like they are flocking to luxury condos around Columbus Circle these days and the prices--especially rental prices--in the UES are dropping like crazy.
ATL, this is a worthless post, even for you.
6 is right.
10, he's much taller standing on his wallet.
“Why don't more smart liberal law school graduates, instead of trooping off to Biglaw, go into plaintiff's work?”
My best guess is that lawyers and law students tend to be risk averse. In Biglaw, you are guaranteed to make six figures right from the get go. Doing plaintiffs’ work, you are going to start off making less money and there is no guarantee you’ll hit that big payday. If lawyers were risk tolerant, they would have gone to business school.
This article is good and all, but how about another "Note from the Breadline"? I love Roxanna's features on this weblog. They're really swell. I really think stories about unemployed life are neat.
Smart lawyers don't go into plaintiffs work because it's not intellectually stimulating. It's a volume practice with the same cookie-cutter allegations in every case. It's the same reason the best and brightest at Biglaw don't end up doing toxic tort or product liability defense. Mind-numbingly boring.
9 - spoken like someone who dreams of being in biglaw and dreams of defending a company that deforms babies.
btw, where's the prestige in living in fear of layoffs and deferrals?
nothing wrong with going to a T-10 law school, but if you're doing it so that you can get a horrible job at a prestigious firm...you're TTT at life.
this guy owns a mansion on martha's vinyard w/ a degree from miami - he's winning over 99.9% of T-10 law grads.
i wish i had that mansion.
I'd rather be this guy than Sonia Sotomayor.
Law Schools wrongly force students into Big Law jobs. The pressure to interview and work for one is real. Most lawyers, I susoect, would enjoy their lives much more if the worked less and helped individuals. I know plenty of small town attorneys who are well respected, and very well off. And, they avoid the headaches of big firm politics.
I'll answer your question, Lat: Because there are no such things as "smart liberal law school graduates". They are just pawns who follow what others tell them is the "right" thing to do without taking the time to discover for themselves what's most important. And it is just for that reason that they go into big law or public interest, rather than still working in a private practice but fighting for the little guy.
19 - if a baby is born without eyeballs, then it's all part of God's plan. Who am I to stand in the way of God's plan?
And yes, I think the morally correct position is to defend productive companies from lawsuits filed by fork-tongued charlatans.
Hugs and Kisses,
9
Nobody -- nobody -- becomes uber rich doing God's work. They just tell themselves they did.
Also, you can't leave your "wife" standing at the alter. Preventing her from becoming your "wife" is kind of the point.
--24
25 - They subsequently married, so he left his (now) wife at the alter. She wasn't his wife at the time, but she is now. He left his wife at the alter.
24/25, Did you think your comment was so good in 24 that you had to reference yourself in 25. That makes me LOL!!!
18, riiiiight....because doing doc review work for several years at a biglaw firm is MUCH more intellectually stimulating
9 - forking one's tongue is a procedure that pays dividends personally and professionally. being a snake in life can let one take, take, take from productive companies like dupont, from virtuous women, from tax collectors. i and plaintiffs lawyers despise the uprightness and good conduct of such productive companies of men, banded together in industry for a better world to give the world a step forward called progress.
haha, do you really have a *moral* position on the issue? i guess nonlawyers read this blog.
9 - forking one's tongue is a procedure that pays dividends personally and professionally. being a snake in life can let one take, take, take from productive companies like dupont, from virtuous women, from tax collectors. i and plaintiffs lawyers despise the uprightness and good conduct of such productive companies of men, banded together in industry for a better world to give the world a step forward called progress.
haha, do you really have a *moral* position on the issue? i guess nonlawyers read this blog.
29/30 - hook, line, and sinker... you have been baited.
Cleveland Arena Football team???? This is not something to be proud of, considering that the AFL is currently on indefinite hiatus and is probably folding.
Nice try to be the next Mark Cuban. Fail.
Because being a good personal injury lawyer and being a good law student are two totally different things. Most of us who go into big law would suck as plaintiff's lawyers, and vice versa.
Because being a good personal injury lawyer and being a good law student are two totally different things. Most of us who go into big law would suck as plaintiff's lawyers, and vice versa.
WE NEED A PICTURE OF THE WIFE NOT THE BLDG. -- GO READ DEALBREAKER AND LEARN HOW TO RUN A BLOG!
35 - Here you go:
http://www.premiermiami.com/patricia.asp
(And yes, I'd hit it. Can't understand the cold feet.)
"Why don't more smart liberal law school graduates, instead of trooping off to Biglaw, go into plaintiff's work?"
Being "smart" is neither necessary nor sufficient to be a successful plaintiff's lawyer. Probably the biggest factors are charm/personality and a high tolerance for risk. People at the top of law school classes tend to be deficient in those two areas, though of course there are exceptions.
35 - She looks like a tranny. Now i'd hit that.
Perv in Miami.
basically we've learned from this discussion that the smarter that you get, the more risk averse you get. and the more risk averse you get, the more willing you are to settle for 160k/year and do an, ahem, intellectually challenging job.
isn't this just saying that biglaw is full people who are too smart and too scared for their own good? i take offense to that.