In the battle to stay high (or climb higher) in the all-powerful U.S. News law school rankings, law schools compete with each other to woo star faculty. And this makes sense. Because a school’s peer reputation score “appears to explain around 90% of the variation in overall USNWR score,” as noted by Professor Eric Talley over at TaxProf Blog, it pays for a law school to snag top talent.
How does a law school prevail in the battle for superstars? Well, despite their impressive academic pedigrees and their Big Ideas, law professors just like us: they love luxury real estate.
No, silly — we’re talking about real estate, an obsession that I share with many Above the Law readers. There’s a reason why Lawyerly Lairs is one of the most popular, well-trafficked features on this site.
Last month, we visited a few attorneys’ homes in Washington, D.C. This visit to our nation’s capital proved so popular that one of our D.C.-based readers volunteered up her own home for your scrutiny.
Garden Place: one of the loveliest blocks in Brooklyn (or all of New York City, for that matter). If you have $10 million to spare, you can live here too.
A friend of mine recently made partner at a top New York law firm. A senior partner called to offer congratulations: “Now you can finally move out of Brooklyn!”
But my friend doesn’t want to move out of Brooklyn — and with good reason. Over the past few years, what was once viewed as a dangerous, dirty, and downmarket borough has become hot, happening, and high-end. It’s not for nothing that GQ famously dubbed Brooklyn “the coolest city in the planet.”
Brooklyn may be newly hip (and increasingly expensive), but some people have known about its charms for years. Take this partner at a leading New York law firm, a longtime resident, who has placed his Brooklyn Heights townhouse on the market — for an eight-figure sum….
* It’s hard to get a mortgage if you have a lot of student debt, even if you make a lot of money. Who needs a house anyway? Your advanced degree will keep you warm. [BusinessWeek]
* A civil trial over BP’s Gulf Oil spill was supposed to start today, but it was postponed at the last minute. Is it just me or does it smell like settlement in here? [New York Times]
* As if anyone needed another reason to never take a Carnival Cruise…. [CNN]
* The Catholic Church just couldn’t handle sharing its ignominious spotlight with Penn State any longer. Attorneys allege that the late Cardinal Anthony Bevilacqua, former Archbishop of Philadelphia, destroyed a list of 35 active priests accused of child sexual abuse. [Washington Post]
* Some movie with no sound, color, explosions, or giant robots won a bunch of Academy Awards last night. I can’t say I care too much. Here’s a rundown of some classic cine con lawyers instead. [ABA Journal]
Which former Cabinet member sold the house with the blue door?
Are we too New York-centric in Lawyerly Lairs, our inside look at the homes (and occasionally offices) of lawyers and law students? Perhaps. It makes sense that we focus on Gotham, since Above the Law is headquartered here. But we realize that other cities and states boast great real estate too (and not just the 3500-square-foot houses enjoyed by the average associate at a Texas law firm).
Today let’s take a trip down to the nation’s capital. We’ll check out a few Lawyerly Lairs down in Washington, D.C. — including the $2 million Georgetown home shown above, recently sold by a former Cabinet member turned law firm partner….
Penny Lane and Brian Frye, in the Catskills home they've placed on the market.
As we have mentioned, we’re trying to diversify the coverage here at Lawyerly Lairs. After all, the world does not consist entirely of Park Avenue apartments owned by mega-rich law firm partners (as seen here, here, and here). Toward that end, we recently wrote about the housing search of some NYU Law students.
But that was still in New York City. Let’s leave Manhattan behind and head to upstate New York, where we’ll visit the beautiful Catskills house of a law professor and his filmmaker wife….
If you don’t have a lawyer, it is hard to really put their feet to the fire and make sure the banks have every ‘t’ crossed and ‘i’ dotted… We are going to make sure funding for those legal services is restored.
As part of the settlement, New York State will receive a guaranteed $136 million, and New Yorkers who suffered during the foreclosure crisis will be eligible for an estimated $648 million in additional payments. Schneiderman said the settlement will help restore legal service programs that were cut back in recent years.
The new face of Harvard Law School has a funny side.
This week, Harvard Law School unveiled its brand new Wasserstein Hall — a behemoth of a law building that will serve the needs of Harvard law students for generations, maybe even centuries. I was not invited to any of the gala events; my invitation must have been lost in the mail. But I can’t wait to see the finished product. Rumor has it that there’s a state-of-the-art debtor’s prison carved into the building’s foundation.
Obviously, a project of this magnitude required a major fundraising effort. Harvard has never been shy about naming things after big donors. Remember, the university itself is named after a guy who made one of the wisest donations of books ever. Wasserstein Hall contains the Caspersen Student Center, and enough commemorative plaques to fill a plaque store.
The building also contains the Falik Men’s Room.
No, I didn’t make that up. I’m not that clever. I’ve got pictures. I’ve even talked to the benefactor who made the gift….
They took on six figures of (non-dischargeable) debt to go to law school, and now they hang their laundry in the street.
Most installments of Lawyerly Lairs, our inside look at the nests of legal eagles, involve residences (and occasionally offices) of utter fabulosity. Just look at our latest Lairs: a $5.9 million apartment on Park Avenue, a $4.6 million prewar coop on the Upper East Side, and a $1.7 million penthouse on the Upper West Side.
We realize that most Americans, or even most lawyers, don’t live in such luxury. And we’re interested in learning about how the other half lives. If you’d like to have your home featured in Lawyerly Lairs, even if it isn’t a million-dollar mansion, feel free to email us, subject line “Lawyerly Lairs.” (If you’re trying to sell your home, send us the listing; exposure to Above the Law’s large audience could be beneficial.)
We’ll get the 99 percent ball rolling with a look at two current law students who braved the brutal renters’ market here in New York. What school do they attend, and how did their hunt turn out?
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.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at email@example.com or firstname.lastname@example.org. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
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