Back in 2006, Professor Smit put his mansion on the market for $29 million. In 2007, he raised the price to $30 million. In 2008 — before the collapse of Lehman and the financial meltdown — he turned down a $20 million offer.
After being on and off the market for the past seven years, the house finally sold. For how much?
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.)
Yesterday we put out a call for submissions for Lawyerly Lairs. We look forward to your responses. In the meantime, here’s some real estate porn that we were able to obtain on our own — since the property in question is for sale.
The Schinasi Mansion is the only freestanding single-family mansion in Manhattan. It dates back to 1909, boasts 12,000 square feet of living space, and sits on swanky Riverside Drive. It is currently on the market for an eye-popping $29,000,000.
Here’s a shot of its French Renaissance, white marble exterior:
So who owns this Mother of All Townhouses? A senior partner at a top Biglaw firm — who also married very well? An ex-lawyer who left for the world of finance, to become a managing director at an investment bank or a partner at a successful hedge fund?
Actually, no. The $29 million mansion is owned by — brace yourselves, people — a legal academic. It’s home to Professor Hans Smit (at right), who teaches civil procedure and international law at Colubmia. Guess those private law school salaries must be pretty good!
Actually, there’s a backstory — and no, Professor Smit didn’t win the $315 million Mega Millions jackpot. Check out the details, as well as more drool-worthy pictures, after the jump.
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.
It’s that time of year again when JDs are starting to apply for 2L summer jobs and 2L summers are deciding which practice area to focus on.
For those JDs with an interest in potentially lateraling to or transferring to Asia in the future, please feel free to reach out to Kinney for advice on firm choices, interviewing and practice choices, relating to future marketability in Asia, or for a general discussion on your particular Asia markets of interest. This is of course a free of cost service for those who some years in the future may be our future industry contacts or perhaps even clients.
For some years now Kinney’s Asia head, Evan Jowers, has been formally advising Harvard Law students with such questions, as the Asia expert in Harvard Law’s “Ask The Experts Market Program” each summer and fall, with podcasts and scheduled phone calls. This has been an enjoyable and productive experience for all involved.
Whether you’re fresh off the bar exam or hitting your stride after hanging a shingle a few years ago, one thing’s for certain: independent attorneys who start a solo or small-law practice live with a certain amount of stress.
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