Movers & Shakers Who's Living In Corzine's House? Betsy Schiffman
Who's buying, who's selling in the world of high-end real estate:
What's Money To An Ex-Investment Banker?
Although U.S. Sen. Jon Corzine of New Jersey was named one of the top technology executives in the country in 1997 by Time magazine, and although he has an M.B.A. and was the former co-chief executive of Goldman Sachs, he seems to have lost his business sense. How else to explain the massively inflated price he paid for his Washington, D.C., home?
Good deal for someone.
In May 2001 Corzine allegedly bought a home in a very exclusive neighborhood on the edge of Washington's Cleveland Park for $4.7 million. He has recently put the home back on the market for $4.9 million. While there's nothing odd about that, what is unusual is that the same house sold for only $775,000 two years before Corzine bought it. That's pretty steep appreciation.
According to local records, the house's ownership is in the name of Nancy Dunlap, trustee of Laybourne, Lawrence E&D, in Newark, N.J., but local real estate sources say it's Corzine's D.C. residence. A New Jersey native, Dunlap serves as a director of Participation 2000, an organization that provides students and activists to work in Democratic political campaigns across the country. The group is chaired by Corzine, who is one of its biggest funders.
No information about Laybourne, Lawrence E&D could be found. Corzine's office didn't want to comment on the $4.7 million price tag, and listing broker Heidi Hatfield of Washington Fine Properties declined to comment. Although Corzine's name is not on the title, it is not uncommon for high-profile people to keep their names off public records by appointing trustees in their place.
Corzine, a Democrat, started his financial career at Bank Ohio in Columbus before joining Goldman Sachs in 1975 as a bond trader. By 1980 he was named a partner, and 14 years later, in 1994, he became co-chairman and co-chief executive officer of Goldman Sachs. When he retired in January 1999, he was estimated to be worth $400 million. His successful bid to win his Senate seat cost him an estimated $63 million, making it the most expensive political campaign in history.
Chef Emeril Is Where The Food Is
America's beloved chef Emeril Lagasse, known for his brash, ebullient manner and his ever-popular cooking show--so popular it airs every day and sometimes twice a day--has finally committed to his Manhattan Upper East Side condo. He had been renting the three-bedroom pad for about a year but recently gave in and bought it for $2.3 million. Janis Aurichio of Citi Habitats represented Lagasse.
A little ham with that?
Besides his smashing success on the Food Network (Lagasse is said to have a multimillion-dollar contract), he's created an entire empire using his name as a brand. Since opening the restaurant Emeril's in 1990, he's opened five more restaurants and also has launched his own line of cooking tools and accessories, Emerilware, and five best-selling books. He even had his own short-lived situation comedy on NBC last year, but it failed to receive stars from critics and viewers and was quickly eighty-sixed.
Despite his success, the Massachusetts native claims he "hasn't changed much." His favorite foods still include "anything with potatoes," and his childhood hero is still Carl Yastrzemski of the Boston Red Sox.
The Sopranos Flee Jersey
Perhaps it's easier to hide in the West Village of Manhattan than it is to hide in New Jersey. Two Sopranos stars, James Gandolfini and Edie Falco--also known as Tony and Carmela Soprano--have both bought apartments in the West Village, according to a New York Observer report. Gandolfini bought a million-dollar condo in March, according to the Observer, while Falco bought a $2.5 million townhouse nearby around the same time.
Made an offer they couldn't refuse.
Their acting careers are on a fast track, but members of the show's cast have seen their personal lives in the news. Gandolfini has had his own personal drama, having filed for divorce in March, shortly after buying the condo.
Robert Iler, the 17-year-old who plays Tony's son A.J., pleaded guilty recently to a petty larceny misdemeanor for his role in a group mugging of two tourists, who had $40 taken from them. Initially, Iler was brought up on charges of second-degree robbery and drug possession last July.
Real estate news can be submitted to Betsy Schiffman at bschiffman@forbes.net or by calling her at (212) 366-8937.
