In today’s Lawyerly Lairs column, we’ll step inside the beautiful home of a Biglaw partner — a name partner at an Am Law and Vault 100 firm, in fact. There aren’t many of those folks still around, since most of the nation’s largest and most prestigious firms are so old. Paul Cravath died in 1940, in case you’re wondering.
But there are a few Biglaw name partners around — at (relatively) young, super-profitable firms, like Wachtell Lipton, Quinn Emanuel, and Boies Schiller. And these lawyers own some fabulous real estate.
Which they sometimes put on the market. Let’s look at the next item up for bids: the D.C. home of a leading litigator, on the market for $4.85 million….
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….
Lawyers and their real estate transactions continue to make the news. Last weekend’s New York Times, for example, chronicled the hunt of a former Cahill Gordon associate and her husband for an apartment large enough for themselves and their three children. Boji Wong and Benjamin Berkman ultimately found what they were looking for, paying just a shade under $3.8 million for a 2,200-square-foot, three-bedroom co-op in tony Tribeca.
For our latest Lawyerly Lairs column, though, we’re going to take a trip uptown. We’ll check out the beautiful pre-war apartment that a noted entertainment lawyer and his wife, a high-profile journalist and writer, recently sold for a tidy sum — $5.3 million, to be more precise….
Our latest Lawyerly Lairs column is about a gay Filipino lawyer’s hunt for a new home on the island of Manhattan. (No, it’s not about me; I’m quite happy where I am, and I don’t own any dogs.)
Julius Towers, a 36-year-old intellectual property lawyer for Colgate-Palmolive, recently relocated from Queens to Manhattan. His search was complicated by a couple of canines: Felix, a Shiba Inu, and Athena, a golden retriever-poodle cross.
What was Towers’s budget, and where exactly did he wind up?
According to Black’s Law Dictionary (affiliate link), a judicial diva is “a particularly confident, skilled, and physically attractive female judge.” By this definition, Chief Judge Loretta Preska (S.D.N.Y.) is a judicial diva. She is highly regarded, as both a judge and an administrator, and she never looks anything short of fabulous.
I’ve been fascinated by Judge Preska for years. I had this to say about her back in 2004 at my first website, Underneath Their Robes: “Magnificent. Tall, thin, elegant. Great bone structure, perfectly coiffed silver hair. Note to self: nominate for superhotties contest next year?”
This gorgeous judge now owns a gorgeous apartment. Chief Judge Preska and her husband, a partner at one of the nation’s most profitable law firms, just paid almost $9 million for a penthouse apartment on the Upper East Side….
As we roll into the July 4th holiday weekend, it’s a good time for a Lawyerly Lairs post. What could be more American than great real estate? Great real estate once owned by a great American lawyer, in fact?
The River House is one of Manhattan’s most magnificent addresses. This elegant pre-war co-op, offering incredible views of the East River, has been rightly described as “one of the most luxurious, romantic and private apartment buildings ever built.”
As you can see from the building’s Wikipedia entry, its celebrity residents over the years have included Henry Kissinger and Uma Thurman. Legal eagles like Philip Bobbittand Kermit Roosevelt [sorry, wrong Kermit Roosevelt] have also made their nests here. And this legal eagle, a Paul, Weiss partner whose penthouse is on the market for almost $15 million, might be the most high-flying of them all….
* SCOTUS justices’ financial disclosures revealed that none of them received gifts worth reporting in 2013. Either their friends have gotten cheaper, or they have fewer friends. Aww. [Legal Times]
* Here’s a headline we’ve been seeing for years, but people are still ignoring it in small droves: “Jobs Are Still Scarce for New Law School Grads.” The struggle is real. [Businessweek]
* Law schools, in an effort to avoid their own extinction, are all adapting to their new enrollment issues in different ways. We’ll see which was effective in a few years. [U.S. News University Connection]
* Quite the “divorce” train wreck we’ve got here, if only they were legally wed: This lawyer allegedly duped his “wife” into a fake marriage, and is trying to evict her from his $1 million lawyerly lair. [New York Post]
* You may have heard that Hope Solo allegedly assaulted her sister and nephew, but her lawyer says that’s simply not true. It was the drunk soccer star who needed shin guards that night. [Associated Press]
Upon reaching my mid-thirties with a wife, a kid, and a dog, it became apparent that the “dream” of renting a tiny box on the island of Manhattan was over. My family and I decided against the Brooklyn half-step, because paying Manhattan rent for a slightly bigger box that would itself be too small for our family in ten seconds seemed stupid. So we zeroed in on buying in Westchester because: Grand Central >> the holding pen at Gitmo >> buying a mule >> Penn Station >> Chernobyl >> Port Authority.
The problem of course with buying property in Westchester is that we’re poor. Not “poor” in the “I need government assistance” sense (though, more on that later). Not even poor in the “I’m a salaried employee and don’t mind when Charles Barkley makes fun of my city” sense. I mean poor in that uniquely NYC/LA/London sort of way that makes you feel “How IN THE F**K do I not make enough money to afford this?”
The other problem was that I’ve spent the better part of the last six years screaming at people to avoid crushing debt obligations. To buy a house, I’m going into more debt than I’ve ever been before, and we know that things didn’t go so smoothly the first time.
But… kids man, what are you going to do? As part of my ongoing attempts to make egregious mistakes and then write about them, here are five things I didn’t really understand about the house-buying process. Note, I had my lawyer hat on, which means I wasn’t flummoxed by things like “taxes” or “closing costs.” Still, there’s a bunch of stuff that doesn’t come up in Real Property or Trusts and Estates…
A few days ago, lawyer turned television personality Ronan Farrow commented on Twitter, “All my business meetings are like ‘Blue is the Warmest Color’ and all my dates are like ‘Schindler’s List’, am I doing something wrong.” The tweet was widely retweeted and favorited by Farrow’s 250,000-plus followers (despite receiving criticism from some quarters).
It’s surprising that Farrow’s dating life isn’t going better. In addition to being extremely handsome, he’s a Rhodes Scholar and Yale Law School graduate with his own television show and celebrity parents (Mia Farrow and either Woody Allen or Frank Sinatra). What more could one ask for in a lover?
How about some solid real estate? Well, Ronan’s got that too — a New York apartment that he purchased for a seven-figure sum….
This Lawyerly Lair is on a pleasant, tree-lined block in Chelsea (click to enlarge).
No, we’re not talking about “law clerk” as in judge’s aide. It’s hard to afford a seven-figure home on a public servant’s salary. We’re talking about “law clerk” as in someone who’s working at a law firm, essentially as an associate, but is not yet an admitted attorney in the jurisdiction.
This “law clerk” and his partner, also a law school graduate, just picked up a spacious Manhattan co-op for a little under $1.7 million. Their housing hunt was chronicled in the pages of the New York Times. Let’s read more about them, and check out the place they finally chose….
The legal industry is being disrupted at every level by technological advances. While legal tech entrepreneurs and innovators are racing to create a more efficient and productive future, there is widespread indifference on the part of attorneys toward these emerging technologies.
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: firstname.lastname@example.org.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.