No, not thatCityCenter. We’re talking about D.C., not Las Vegas.
The Washington office of Skadden might be moving. The Washington Business Journal reports:
The Skadden law firm is on the verge of agreeing to lease space at the new CityCenter D.C. project, kick-starting the first phase of the old convention center site after nearly two years of delay.
The firm signed a letter of intent to lease 350,000 square feet at the downtown project, but the nonexclusive letter is contingent upon the developer, Hines/Archstone, obtaining financing to begin construction….
But it’s not yet a done deal. What other options is Skadden considering?
Last summer, we reported that Orrick would be moving into fancy new offices in New York. Earlier this week, the office move took place. From the firm’s press release:
Orrick, Herrington & Sutcliffe LLP has moved its New York office to 51 West 52nd Street, the same building that houses CBS headquarters and which is also known as Black Rock. The innovative design of the space reflects Orrick’s progressive culture, integrating technological, environmental and social advantages that enable the firm to better and more efficiently serve its clients.
Non-traditional features for law firms are incorporated throughout the office. Numerous public spaces, transparent glass office fronts and an open floor plan, with low-height components for greater visibility and interaction among staff, contribute to a sense of community. To better connect with other offices and clients, Orrick invested in state-of-the-art telepresence conferencing equipment.
As it turns out, the Orrick offices have a Telepresence Room — not to be confused with the Cryogenic Room, where Ralph Baxter plans to live forever.
Back in the summer of 2008, we wrote a post entitled “Summer Associates of the Day: Sapphic Summers in Lesbianic Lip-Lock.” The title of the post pretty much says it all.
Well, it turns out that a partner at the same firm, Minneapolis-based Lindquist & Vennum, may have been misbehaving too. The Pioneer Press reports that Michael S. Margulies, a leading Twin Cities real estate lawyer, has been accused of professional misconduct — in the form of “misappropriat[ing] significant sums from a limited number of clients and from the firm,” according to a statement by the firm. Margulies has withdrawn from the firm’s partnership, reported his conduct to Minnesota’s professional responsibility office, and agreed to be disbarred. He has also resigned from the St. Paul Planning Commission, where he served several terms under different mayors.
What prompted this alleged theft? It seems that Michael Margulies, former head of Lindquist’s real estate group, may have loved real estate not wisely, but too well. From the Pioneer Press:
Margulies, 56, of St. Paul, and his personal company, Triad Services, were sued in Ramsey County District Court by a real estate development company for which he had worked as an attorney, secretary and treasurer. In the lawsuit, CMB Minnetonka LLC alleged that Margulies “made numerous illicit withdrawals” from CMB’s bank account and line of credit at Highland Bank and used the money — $1.5 million or more — for his own purposes.
Specifically, the suit claims Margulies spent the money to overhaul the historic mansion at 516 Summit Ave. in St. Paul that he owned with his former wife.
So he allegedly did it all for love of a house. Was it worth it? Just how nice is this pile o’ bricks?
Law professors generally don’t earn as much as Biglaw partners. Legal academic salaries, while generally in the low six-figures, rarely go over, say, $400,000.
But some law profs own very, very nice homes. See, e.g. (in descending order by value):
Columbia professor Hans Smit ($30 million mansion — yup, that’s seven zeros);
Yale professor James Whitman ($5.7 million co-op);
NYU professor Cathy Sharkey ($5.2 million apartment);
“Feldsuk,” aka Harvard professors Jeannie Suk, who has a new book out that looks quite interesting, and Noah Feldman ($2.8 million mansion);
Columbia professor Edward Morrison ($2.6 million townhouse); and
Columbia professor Sarah Cleveland ($2.5 million townhouse).
Sometimes the professors get financial assistance for these purchases from the schools that employ them. But sometimes the professors buy them on their own, without any university help.
For example, as reported in the New York Observer, Daniel Fischel, former dean of the University of Chicago Law School, just picked up an $8.45 million Manhattan pied-à-terre. As breathlessly described by writer Max Abelson, the apartment features “custom electric shades, a steam shower, and a Sub-Zero wine refrigerator.”
In these dire times, academia is regarded as a refuge. Sure, endowments are down, some schools have imposed hiring freezes, and budgets are being trimmed here and there. But the academy, especially the legal academy, hasn’t seen anything like the carnage experienced by Biglaw.
Take the ivory tower of Columbia Law School, which apparently remains an impregnable fortress against the recession. Despite a few budget cuts at the university, the law school still provides professors with delicious digs. From the Sunday New York Times:
Many buyers say that jumbo mortgages are hard to come by these days. But don’t tell that to Edward R. Morrison, a law professor and economist at Columbia University, who is something of an expert on these troubled times.
Last month Mr. Morrison and his wife, Anne, bought a restored two-family town house at 357 West 121 Street in Harlem for $2.575 million. Brokers said it was a record price for a town house in the neighborhood — just down the hill from the Columbia campus in Morningside Heights, near Morningside Park — and one of the top 10 town house sales in Harlem in recent years.
As we’ve told you before, to the Elect go all the spoils. (Ed Morrison clerked for Justice Antonin Scalia.)
Now, a $2.6 million townhouse is pretty sweet — but it’s not the nicest piece of real estate owned by a CLS faculty member. That title surely belongs to Hans Smit’s $29 million mansion.
(Actually, make that $30 million, the price reflected in the current version of the listing. What recession?)
More details about the Morrison manse, plus a picture of the super-cute professor, after the jump.
No Gropius dorms for her, thank you very much. Harvard Law School student Cate Edwards, oldest daughter of prominent politician John Edwards, just purchased a million-dollar property in Washington’s tony Georgetown neighborhood.
Famous dad: Former presidential hopeful John Edwards.
Price: $1.3 million.
Amenities: Two bedrooms, five baths.
An NPR internship with Nina Totenberg doesn’t pay like a summer associate gig. Perhaps Cate was able to draw upon the fortune amassed by her father during his career as a top trial lawyer.
The property has two bedrooms and five bathrooms. A high bathroom-to-bedroom ratio is a token of a luxuriousness. But does Cate really need all those bathrooms? Does Papa Edwards — who might crash occasionally at Cate’s place, having sold his own mansion around the corner in 2006 (for $5.2 million) — really have that much ickiness to wash off?
The children of Senators Ted Kennedy and John Warner also snapped up some swank properties. Read about them over at Washingtonian.
The law schools of Columbia and NYU have been battling over faculty superstars for several years. And now NYU is bringing out the heavy artillery: multimillion-dollar condo purchases. From the New York Times:
Columbia University, in a never-ending search for a larger campus, has long had an outpost for faculty housing at 455 Central Park West — 53 apartments in an 26-story tower attached to the French Renaissance chateau at West 106th Street.
So it was something of a surprise when a foundation associated with New York University bought a large condominium in the complex. The unit, which cost $5.2 million, is built into one of the huge turrets of the chateau…. The duplex apartment has a round living and dining room with 37-foot high ceilings and Central Park views, along with three more conventional bedrooms.
Sounds fabulous! Who gets to inhabit this fabulous pad?
One year ago, we wrote about how Columbia law professor Hans Smit was trying to unload his 12,000 square foot home — the only freestanding single-family mansion in Manhattan — for a cool $29 million.
One year later, the good professor’s home is still on the market. Its white-marble-clad facade greeted us when we visited the New York Times homepage this morning (screencap and link to listing below).
The only difference from last year? The asking price, now up to $30 million.
If at first you don’t succeed, try, try again. And up your asking price by a million!
(In all seriousness, Professor Smit’s decision to round up to $30 million probably isn’t as crazy as it might seem. Despite the weak real estate market in the rest of the country, the market in New York City — especially at the high end — continues to be strong.)
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We currently have a number of active openings for associate roles at US and UK firms in HK / China, Singapore and two new in-house openings. As always, please feel free to reach out to us at email@example.com in order to get details of current openings in Asia, as well as to discuss the Asia markets in general and what we expect for openings later this year. Our Evan Jowers and Robert Kinney will be in Beijing the week of March 25 and Evan Jowers will be in Hong Kong the week of April 1, if you would like to meet them in person.
The US associate openings we have in law firms are in the usual areas of M&A, cap markets, FCPA / white collar litigation, finance, and project finance. The most urgent of our top tier (top 15 US or magic circle) law firm openings in Asia (among many other firm openings that we have in Asia) are as follows:
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The last time I flapped my wings your way, I tried to make at least enough noise about your mobile phone to make you more than a little bit uncomfortable. I hope I did. If enough of us become anxious enough about the known and unknown unknowns and knowns in our mobile phones, then we can start making wise decisions about how to manage that information and its resultant investigations.
Today, I’d like to put a finer point on the last installment’s topic by asking a question that seemed to catch most attendees off-guard at a conference panel that I moderated last week: is there discoverable personal information in a mobile app? Our panelists’ answer was a uniform “yes” with one stating that, if he had to choose only one type of data that he could discover from a mobile phone, he’d choose app data. Why? Because there’s simply so much of it and because almost all of it is objective – not just user-created like an email – but machine-tracked like GPS, usage duration, log in and log out times, browsed web addresses, browsed actual addresses. Also, most of us seem to have the idea that data doesn’t actually “stick” to our mobile devices the way it “sticks” to our hard drives. Maybe there’s a disconnect based on the fact that our phones are mobile so we assume the data is mobile to?
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