Manhattan

Contrary to the cliché, sometimes the acorn does fall far from the tree. Very, very far.

Let’s play a game of word association. If I were to toss out “ACORN” — as in the Association of Community Organizations for Reform Now, not the nut — what would come to mind?

Controversy? Certainly.

Scandal? Sure.

People in need of low-income housing? Why not.

You probably wouldn’t blurt out, “27-foot-wide, $21 million townhouse in the West Village”….

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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….

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Julius Towers

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?

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Chief Judge Loretta Preska

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….

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Ronan Farrow

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….

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345 West 13th Street

Meet Michael Graffagna, who’s one impressive MoFo… partner. The Harvard Law School graduate, admitted to practice in New York, California, and Japan, heads up the project finance practice at Morrison & Foerster.

Graffagna is now resident in the firm’s Tokyo office. So he and his wife, Midori Graffagna, recently sold their Manhattan pied-à-terre. And oh what a pied-à-terre it was — larger than most Manhattanites’ primary residences.

How large are we talking? How much did the Graffagnas get for it? And which celebrity lives upstairs?

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The Beresford (at right)

Seven years ago this month, M&A lawyer Gregory Ostling was elected to the partnership of Wachtell Lipton, effective January 2007. In our story about the news, we referred to Wachtell as “obscenely profitable and dazzlingly prestigious.”

Wachtell routinely tops the Am Law 100 rankings in profits per partner and the Vault rankings of law firm prestige. In 2011, according to the American Lawyer, WLRK enoyed PPP of $4.975 million.

Because the firm has a single-tier partnership and is fairly lockstep (with just a handful of senior partners off the lockstep), even junior partners at Wachtell do very well for themselves. So maybe it shouldn’t be surprising that a relatively young partner like Greg Ostling just bought not one but two multimillion-dollar apartments at the Beresford — one acquired from a famous athlete, and one from an heiress — which presumably he’s going to combine into a single fabulosity-oozing residence….

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101 Central Park West: home to celebrities, a billionaire’s daughter, and an in-house counsel.

Earlier this year, we wrote about a commendable initiative at Pace Law School called New Directions. It’s a program devoted to helping lawyers who have left the profession, many of them stay-at-home mothers, get back into the world of practice.

The New York Times profiled a few of the program’s graduates. One of them, Jeannette Rossoff, graduated from Boston University School of Law, worked at Shearman & Sterling for a few years, then left the workforce for twenty years to raise four children. After her children were grown, she completed the New Directions program, interned for the New York State attorney general’s office, then landed an in-house job with a nonprofit.

It’s nice that Mrs. Rossoff is back to practicing law, but it certainly wasn’t necessary. If you can afford to live in a $12 million apartment with monthly maintenance charges of almost $7,000, “work” is optional….

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325 West 52nd Street: modest on the outside, fabulous on the inside.

These are challenging times for print journalism. The Boston Globe, which the New York Times acquired in 1993 for $1.1 billion, recently sold for $70 million (or perhaps negative $40 million, as Matt Yglesias suggests). Jeff Bezos just bought the Washington Post for $250 million, a fraction of its former worth (and he may have paid four times its true value).

But print journalism was good to many people for many years. In the glory days of magazine writing, publications would pay several dollars a word for features that were thousands of words long. These generous fees might explain how a prominent magazine journalist amassed enough cash to buy a four-bedroom apartment Manhattan, which he recently sold to a law firm associate for just under $2 million.

That’s a sizable chunk of change for a young lawyer. How many sixth-year associates can afford $2 million apartments? Let’s learn more of the facts….

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‘Ding Dong, DOMA’s Dead’ (click to enlarge).

How many parades feature successful Supreme Court litigants? Or signs about federal statutes?

But New York City’s Gay Pride March, held every year on the last Sunday in June, is no ordinary parade. Here are some photos I took yesterday that the legal nerds among you might appreciate….

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