In the world of Manhattan real estate, life begins at $1 million. Sure, you can get a very nice studio or one-bedroom apartment for six figures. But if you’re looking for at least two bedrooms and two baths, in a decent part of town, be prepared to pay the mansion tax (although a 1,200-square-foot apartment is hardly a “mansion”).
In today’s edition of Lawyerly Lairs, we’ll present you with two apartments, both priced between $1 million and $2 million. Then we’ll ask you to vote in a reader poll and say which one you prefer. We’re all about interactivity here at Above the Law.
Finding a decent apartment in New York City can be a challenge. But compared to getting Claus von Bülow and O.J. Simpson off the hook — or, for that matter, shaping the brilliant minds of Harvard Law School students — it’s a walk in Central Park.
Alan Dershowitz — distinguished public intellectual, celebrated criminal defense and civil liberties lawyer, and Felix Frankfurter Professor of Law at Harvard — just purchased an apartment in NYC. It’s a homecoming of sorts for Dershowitz, 74. Although he has lived for years in Cambridge, the home of HLS, he was born in the Big Apple.
Dershowitz was born in Brooklyn, but the prominent professor isn’t going back to the borough that GQ dubbed “the coolest city on the planet.” Instead, he’s moving to Manhattan. (C’mon, do you think Dersh put up with thousands of HLS brats over the years so he could wind up right back where he started?)
Which neighborhood is Dershowitz moving to? How fabulous is his apartment? How much did he pay for it? We have answers to all of these questions, plus comments from the good professor about his move….
Being an associate at a large law firm isn’t easy. Partners can be extremely demanding, sometimes unreasonably so. But because the partners sign the paychecks, most associates, especially associates with student loans hanging over them, have no choice but to obey. The associate’s fantasy of telling his least favorite partner to take this job and shove it is just that — a fantasy.
But not for every associate. Some associates are so wealthy that working in Biglaw is just something they do for fun. In today’s Lawyerly Lairs, we introduce you to an associate whose new apartment puts many a partner pad to shame….
* Steven Davis, D&L’s former chairman, really wants to make sure he’ll be able to use the firm’s insurance policy to defend himself, or else he’ll “suffer undue hardship.” Sorry, but after all the undue hardship you caused, nobody feels bad for you. [Am Law Daily]
* As it turns out, the Mitt “47 Percent” Romney recording may have been illegally taped, but Florida authorities aren’t investigating — a victim hasn’t come forward to complain. What, no “off the cuff” remarks this time, Mitt? [Washington Wire / Wall Street Journal]
* Even if you get disbarred, you can still go on to work for a Biglaw firm. In other news, apparently you can last about a month at Lewis Brisbois while using a stolen identity before you get fired. [Las Vegas Review-Journal]
* Arizona’s governor was really excited that the injunction against SB 1070′s “show me your papers” provision was lifted by Judge Susan Bolton. She won’t be as excited when all of the lawsuits start rolling in. [Bloomberg]
* It’s probably bad if your dean resigns before the school opens. J. Michael Johnson, the ex-dean of Louisiana College School of Law, left to take a “great job offer” (i.e., not a law school deanship). [Shreveport Times]
* Good news, ladies! A serial subway “grinder” in NYC avoided jail time after ejaculating on three women in separate incidents, and now city pols are trying to make it harder for perverts to get off. [New York Daily News]
With both law school and the law school application season about to resume, let’s return to our popular series of Law School Success Stories. While we believe it’s important to provide our readers with accurate information about the perils of law school, including data about high lawyer unemployment and crushing student debt, we like to balance out the doom and gloom with stories of successful lawyers who made winning bets on legal education.
Today’s success story comes to us via the august pages of the New York Times. Even though this young lawyer didn’t go to a top-tier law school, he’s enjoying a phenomenal legal career, marked by fame and fortune.
His story contains valuable lessons for people thinking about, or already enrolled in, law school. Let’s learn more about him, shall we?
The law firm cafeteria is something of an anachronism. Having a large company mess hall where associates can grab a bite to eat without taking too much time to get lunch isn’t really necessary anymore. Nobody takes a “lunch hour” anymore. Associates can use Seamless and eat at their desks.
And we know partners aren’t eating in the firm cafeteria unless they are 80 years old and too busy to head to Peter Luger’s. No law firm cafeteria is nice enough to bring a client to; that’s why God created expense accounts.
But the cafeteria is still useful for secretaries and paralegals. At my old firm, the cafeteria was a great place to grab breakfast. At Debevoise, the cafeteria enjoys the best views of the block. We used to bring lawyers from Schulte Roth, which is housed on the lower floors at 919 Third Avenue, to show them our view (and to console them while they cried).
The point is, even as the Biglaw cafeteria has diminished relevance given our modern conveniences, you don’t want your firm perk to be disgusting. Last March, we learned that a number of Biglaw firms had received poor grades from the New York City Department of Health about the quality of their in-house cafeterias.
But it appears that Cravath’s food fortunes have significantly improved…
* Dewey have some false expectations of success for this partner settlement agreement? Only one in four affected partners have signed on the dotted line, but advisers think the plan will win bankruptcy court approval. [Am Law Daily]
* “There comes a point where the prospects of substantially increasing your income just outweigh everything else.” Even on his $168K salary, this appellate judge wasn’t rich in New York City, so he quit his job. [New York Law Journal]
* The middle class needs lawyers, and unemployed law school graduates need jobs. The solution for both problems seems pretty obvious, but starting a firm still costs money, no matter how “prudent” you are. [National Law Journal]
* “This is a time when law schools are trying to look carefully at their expenses and not add to them.” New York’s new pro bono initiative may come at a cost for law schools, too. [Thomson Reuters News & Insight]
* Much to Great Britain’s dismay, Ecuador has announced that it will grant political asylum to Julian Assange of WikiLeaks fame. Sucks for Ecuador, because Assange is known to not flush the toilet. [New York Times]
* A smooth criminal gets a break: Michael Jackson’s father dropped a wrongful death suit against Dr. Conrad Murray. It probably would’ve been helpful if his attorneys could actually practice in California. [Washington Post]
* Did Lindsay Lohan’s lawyers plagiarize documents from internet websites in their defamation filings against Pitbull? You can deny it all you want, but his lawyer is out for blood and sanctions. [New York Daily News]
On Friday, I took a little trip to the New York County Clerk’s office to become registered as a marriage officiant in the state of New York.
Let me say that again: I can now legally marry people. Like a mayor. Or a ship’s captain.
Going through the process of becoming a marriage officiant has given me a wonderful look at the state of our marriage laws, and my hours at the clerk’s office were the perfect icing. Let me say just say that the closer you get to the legal process of marriage, the more ridiculous gay marriage opponents appear.
I mean, come on, if I can legally marry people, how “sacred” or “traditional” is the institution of marriage really? Besides, have you looked at some of the man/woman combinations that are getting married these days? I just think we are inviting God’s judgment on our nation when we shake our fists at Him and say, “Instead of helping the poor or sick or infirm, we’re all going to eat chicken sandwiches to show that we’ll defend as sacred something that can be done in two hours at the freaking clerk’s office.”
Let’s just say that the number of gay people getting marriage licenses was dwarfed by the number of men standing their with pregnant girlfriends looking like their balls were being held in a vise grip….
Contrary to popular belief, many lawyers who toil in Biglaw actually enjoy what they do. This is especially true of partners (as opposed to associates who just pass through on their way to in-house or government opportunities). Some partners enjoy their work so much that they’d do it for free — or at least for much less than the millions they typically receive.
Of course, even if you find fulfillment in the work you do as a law firm partner, you can’t deny that the other benefits are nice. Being a Biglaw partner certainly allows you to provide an upscale lifestyle for your family. And it might permit you to enjoy an early retirement for yourself.
When you earn millions of dollars a year in partner profits, with lucrative retirement benefits on top of that (assuming your firm doesn’t do a Dewey), you don’t need to work until you’re 65 or 70. Instead, you can get an early start on your golden years, pursuing all of the hobbies and interests that you never had the chance to explore while billing 2000-plus hours a year.
That’s exactly what a retired Skadden corporate partner, James Freund, has been doing. Freund, who is now 77, retired from SASMF back in 1996, around the age of 61 (a little early, but not hugely so).
A few years ago, Freund scaled back his lifestyle. He traded in his $5 million townhouse for an apartment — one that cost a mere $3 million. Being a retired Skadden M&A partner is a tough life, but somebody’s got to live it….
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
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: email@example.com.
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.