Make fun of the University of Chicago Law School’s law-and-economics focus all you want. Their graduates make good use of the training, enjoying tremendous success in the business world. Some of them go on to become billionaires — and then make eight-figure gifts to their alma mater.
The legal eagle featured in today’s Lawyerly Lairs coverage isn’t a billionaire, but he has done very, very well for himself, in both business and politics. And real estate: he just sold his urban mansion for more than $11 million.
You’ll feel pangs of envy when you find out how little he paid for it — and when you see what a beautiful property it is….
Here’s a report from the New York Daily News:
Talk about using your budget wisely.
Former Bloomberg administration number 2 Dan Doctoroff has sold his tony Upper West Side townhouse for a whopping $11.25 million after paying just $1 million for it in 1994, city records show.
That’s quite a tidy profit. Dean Michael Schill, time to get on the horn and give Doctoroff a ring. Flush with cash, maybe he’ll make another multimillion-dollar gift to the law school.
For the record, though, it’s not $10 million in pure profit. Dan and Alisa Doctoroff invested significant sums in the property over the years:
The former Deputy Mayor snagged the 6,400-square-foot home out of foreclosure in the nineties and plowed millions of dollars into a total rehab, transforming it into an elegant seven-bedroom with a library, a formal dining room and a landscaped private garden.
Let’s inspect some of those 6,400 square feet, shall we?