Lawyerly Lairs: Two $3 Million Apartments Are Better Than One

How much did this young Wachtell partner pay for these two amazing apartments?

That deal got written up more recently, in the pages of the New York Observer (which apparently missed the prior purchase of #4GG next door):

For the price of $3.8 million, [Goodyear Tire heiress Dorothy Seiberling] Steinberg has sold her two-bedroom unit in the tony co-op building at 211 Central Park West, according to city records, netting just under the $4 million ask.

A partner specializing in mergers and acquisitions and securities law at the white-shoe firm of Wachtell, Lipton, Rosen & Katz, the buyer, Gregory E. Ostling, is himself no slouch in the commerce department. But he can hardly compete with Ms. Steinberg’s grandfather Frank Seiberling, who founded the Goodyear Tire and Rubber Company in Akron, Ohio in 1898 and subsequently built Stan Hywet Hall and Gardens there. A 65-room mansion on 3,000 acres, the estate was inspired by English country homes in the Downton Abbey mold, and remains amongst the largest historic houses in the country. The hall is also a national historic landmark.

Steinberg’s former residence is no 65-room mansion, but it has its positive attributes:

[T]he co-op features views of Central Park, wood-burning fireplaces and 10-foot ceilings, even if it does need some work. The unit, which has not been on the market for 50 years, “presents the perfect opportunity for the discerning buyer to restore this magnificent space into the home of their dreams,” according to the listing. But Mr. Ostling, whose clients often acquire companies that are not quite living up to their potential, shouldn’t have any trouble realizing the unit’s full potential.

Especially when he combines it with apartment next door. Let’s have a look at the floor plans….

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