Lawyerly Lairs

The Cornwall: home to a Cravath crib.

The venerable firm of Cravath, Swaine & Moore has received a fair amount of criticism for its allegedly subpar bonuses. I’ve previously defended their payouts — in times of economic uncertainty, is paying modest bonuses to avoid later layoffs such a bad idea? — but my view has been poorly received. (For commentary castigating firms for their cheapness, please turn to my colleague, Elie Mystal.)

Partners at Cravath, where profits per partner exceeded $3 million in 2010, are definitely in the top 1 percent. But it seems that even non-partners are doing quite nicely for themselves, despite all the bonus bellyaching.

Check out the million-dollar penthouse — yay real estate porn! — of one of Cravath’s corporate lawyers. And she’s not even a partner….

UPDATE (12/12/11): We’ve gotten our hands on the floorplan, which we’ve added to the slideshow, and we’ve added additional comments about what a “practice area attorney” does at Cravath.

double red triangle arrows Continue reading “Lawyerly Lairs: Cravath Cribs (Part 1)
(A non-partner’s million-dollar penthouse.)

Last summer, David Van Zandt announced that he was stepping down as dean of Northwestern Law, in order to assume the presidency of the New School here in New York. In the fall, he put his magnificent mansion on the market — for a whopping $4.7 million. (DVZ bought the 6,300-square-foot house, in Chicago’s tony Lincoln Park neighborhood, for $922,550 back in 1996.)

We were impressed. We wrote at the time: “It seems that Dean Van Zandt’s talents extend to real investing as well as academic administration!”

But some commenters were less enthused. Wrote one, “Let’s wait and see how much he actually gets, shall we?” Said a second, “I live in the area…. he will be lucky to get $3.0M.”

We can now report that a buyer has closed on President Van Zandt’s former home. How much did he get for it?

double red triangle arrows Continue reading “Lawyerly Lairs Update: Ex-Northwestern Law Dean Sells Magnificent Mansion”

Edward De Sear

I grew up in the town of Saddle River, New Jersey, a suburb about 40 minutes outside of New York City. With its wooded rolling landscape and small-town charm, Saddle River is a pleasant place to live. Large houses, a mix of stately older homes and well-executed McMansions, sit on sizable plots of land, thanks to two-acre zoning.

It was a peaceful and bucolic locale, and when I visit my parents, it seems much the same. My colleague Staci Zaretsky, our newest full-time contributor here at ATL, also grew up there — and concurs with my assessment.

But Saddle River, like the suburbs depicted in such films as American Beauty and Happiness, is not without its drama. Yesterday Edward De Sear, 64, a resident of Saddle River and a capital-markets partner at the distinguished international law firm of Allen & Overy, was arrested at his home and charged with distributing child pornography. The charge of distributing child pornography carries a mandatory minimum penalty of five years in prison and a maximum penalty of 20 years and a $250,000 fine.

UPDATE (12:00 PM): Make that a former partner of Allen & Overy. De Sear has resigned from the firm, according to a statement issued by A&O. Read it in full after the jump.

Let’s learn more about the allegations against Ed De Sear, hear from someone who knows him, meet his high-powered defense counsel — and check out his beautiful and historic home….

double red triangle arrows Continue reading “Allen & Overy Partner Accused of Kiddie Porn Purveyance”


Ted Freedman

Last October, we wrote about the mysterious departure from Kirkland & Ellis of Theodore Freedman. Freedman was a prominent bankruptcy and restructuring partner at the firm, based out of the New York office.

As we mentioned in the story, our coverage of Freedman’s departure was prompted by “interesting rumors.” We hoped that our post would result in additional corroboration of what we were hearing. Alas, our write-up just prompted the usual attacks from Kirkland Kool-Aid drinkers, who accused us in the comments of harboring ill-will toward K&E and engaging in shoddy journalism.

Well, this time we’ll enjoy the last laugh (not because we have anything against K&E — we don’t — but because we like being proven correct). We can share what we know about Ted Freedman, because the rumors are now embodied in a federal criminal indictment….

double red triangle arrows Continue reading “Mystery Departure Solved: Ex-Kirkland Partner Hit With Federal Criminal Charges”

The Mandarin Oriental in Boston.

Some readers have issues with the often irreverent commenters here at Above the Law. While ATL commenters sometimes say hurtful or offensive things, like anonymous commenters all over the internet, they also provide significant value. They serve as copy editors, highlighting our typographical mistakes; they work as tipsters, pointing us in the direction of news stories; and they function as fact checkers, identifying errors in reporting.

Relying upon the estimable Boston Globe, we recently reported that Henry Rosen, a real estate lawyer at Choate Hall & Stewart, purchased a fabulous $13 million penthouse condominium. But a commenter came along and disputed that: “[Rosen's] just a straw — he purchased it as trustee for a trust.”

After seeing this comment, we raised the issue with the Boston Globe reporter who wrote the original story. And as it turns out, Henry Rosen is not the real party in interest. He is not the true purchaser of the prime penthouse at the Mandarin Oriental in Boston.

Let’s look at the Globe’s correction….

double red triangle arrows Continue reading “Think A Lawyer Can Afford a $13 Million Condo? Think Again.”

The Mandarin Oriental in Boston.

CORRECTION (7/13/11): Alas, it appears that this apartment is not a lawyerly lair. Please see this correction.

It’s time for a new installment of Lawyerly Lairs, Above the Law’s behind-the-scenes look at luxurious lawyer residences. As we close out the week that started off with the Fourth of July, it’s fitting that we turn our attention to Boston, the city some call “The Cradle of Liberty.”

Ain’t freedom grand? One Boston attorney has enough free cash flow to buy the most expensive condominium ever sold in Boston — the very best penthouse at the Mandarin Oriental Residences, on tony Boylston Street.

Let’s find out who this lawyer is, where he works — and, of course, what $13.2 million buys you in Beantown….

double red triangle arrows Continue reading “Lawyerly Lairs: A Wicked Awesome, $13 Million Penthouse Condo”

This year, we’ve heard a few horror stories from the poor and downtrodden students of NYU Law School –- and that is not the way we’d usually characterize these students.

But when the recession hit, NYU Law’s students were hit even harder. Some 3Ls were unemployed — so unemployed that Barrister’s Ball tickets had to be subsidized. Some 3Ls were so poor that they can’t afford black market commencement tickets. Holla! Livin’ in squala!

How could the school better use student tuition dollars to avoid these problems in the future? How could the school improve its students’ quality of life? These circumstances were likely difficult for the school’s administration to address, so it seems that they decided not to address them at all.

Instead, the school did this:

Yep, NYU Law bought a $3.5 million condo in the West Village….

double red triangle arrows Continue reading “Tuition Dollars Hard at Work: A Palatial Pad for NYU Law Profs”

Ladies: if you're in NYC, it's okay to go around like this.

* An update to an item from yesterday’s Non-Sequiturs — or, “a domestic dispute version of Spy vs. Spy.” [Not-So Private Parts / Forbes]

* And a response to yesterday’s controversial post about paralegals (and the educational credentials required for the position). [A Paralegal's Life]

* Are you a rising 3L looking for post-graduate employment at a law firm? Check out Waller Lansden’s innovative Schola2Juris program. [Schola2Juris via Am Law Daily]

* Here’s a subject that never gets old (we’ve discussed it before, and we’ll discuss it again): what not to wear as a summer associate. [Corporette]

* Ah, screw it — if you’re here in New York, ladies, just go topless. It’s legal! [Runnin' Scared / Village Voice]

45 Star Island Drive

* Billable Hours: The Movie. “This comedy follows one young lawyer as she is slowly driven crazy by monotonous work, obnoxious colleagues, and the constant buzzing of her BlackBerry.” [Billable Hours]

* Lawyerly Lairs: Roy Black, the high-profile Miami criminal defense attorney, buys a $7.1 million mansion. How many square feet does $7.1 million buy on Star Island? [Todd M. Glaser]

* Advice for PR folks: put some thought into addressing your bulk emails. Also, if you’re pitching us, read this tweet. [Constitutional Daily]

Katherine Forrest: You'd smile too if you were this rich.

I recently wrote about Katherine B. Forrest, the celebrated litigatrix nominated to a federal judgeship on the breathtakingly prestigious Southern District of New York. Forrest currently serves as a deputy assistant attorney general in the Department of Justice’s antitrust division, but before joining the DOJ she was a longtime partner at Cravath, Swaine & Moore — a premier, if not the premier, American law firm. Forrest was one of CSM’s most popular (and most powerful) young partners.

Katherine Forrest has a reputation as an incredible attorney, and she has the awards to prove it (see question 8). Not surprisingly, the ABA deemed her “unanimously well-qualified” as an S.D.N.Y. nominee.

So here’s what I wondered: Why did the amazingly accomplished Forrest, a partner at super-lucrative Cravath for over a dozen years, declare a mere $4.3 million on her net worth statement? Granted, $4.3 million is nothing to scoff at; KBF is rich (even by Elie’s standards). But it seemed to me that a lawyer of her distinction, who was a partner at a top firm for such a long time, should be even richer.

Thanks to information from helpful readers who saw my earlier post, I now know the truth. As it turns out, Katherine Forrest is considerably wealthier than that $4.3 million number suggests.

Way richer, in fact. Let’s find out….

double red triangle arrows Continue reading “Ex-Cravath Partner Nominated to S.D.N.Y. Is Pretty Stinking Rich”

Burka in the court?

* The three defendants in the civil wrongful-death action brought by Robert Wone’s widow are keeping their mouths shut. [National Law Journal]

* But their former house is open — and once again on the market, for the tidy sum of $1.6 million. [Who Murdered Robert Wone?]

* Professor Eugene Volokh wants to know, with respect to wearing religious head coverings to court, can’t we all just get along? [Volokh Conspiracy]

Lavi Soloway

* Congratulations to Lavi Soloway and his client, Henry Velandia, whose deportation proceedings have been adjourned — due in part to a recent decision by Attorney General Eric Holder, vacating a BIA decision in another case involving a same-sex couple. [Poliglot / Metro Weekly]

* Speaking of judges and gay marriage, maybe Justice Kennedy should trade Salzburg for São Paulo this summer. [ABA Journal]

* What is behind the spring bonus phenomenon? One big factor: the boom in the lateral hiring market. [Vault's Law Blog]

* Speaking of the state of the legal economy, we’ve already linked to the big Economist article on the legal profession — but check out this great photo, in case you missed it. [The Economist / Tumblr]

* Are harsh sanctions for discovery violations a good thing? Ben Kerschberg thinks so. [Law & Technology / Forbes]

* Don’t forget to wish your mom a Happy Mother’s Day! (Unless your mom is Vivia Chen.) [The Careerist]

* Litigators: Do you know about the usefulness of Rule 56(f) 56(d)? [What About Clients?]

* When Glenn Reynolds is away, Ann Althouse will play. [Althouse via Instapundit]

* Were your law school classmates this attractive? Probably not. [YouTube]

Page 9 of 131...5678910111213