Any avid watcher of HGTV knows that the summer is the best time to sell a home. Bankers are no exception to this advice as several such as Jamie Dimon have high hopes to sell their second, third and umpteenth homes in the (at-the-moment, not-so-profitable) real estate market. Here are some of the hottest on-the-block properties fit for a banker:
J.P. Morgan Chase & Co. (NYSE:JPM) CEO Dimon and his wife, Judith, put their house on Bank Street in Chicago's Gold Coast neighborhood (pictured) up for sale. The house has eight bedrooms, 26 rooms, a terrace rooftop and 10 baths, and it is all yours for $10.5 million, according to
BlockShopper.
Former Lehman Brothers Holdings Inc. chairman and CEO Richard Fuld Jr. briefly put
his 16-room apartment on Park Avenue in New York up for sale for $32 million, which is reportedly $11 million more than he paid for it, according to
Bulletin Wealth. The apartment (pictured below) is staffed by
four servants and a butler, and it has five fireplaces, according to Curbed. He withdrew the listing for the 6,200-square-foot cooperative apartment this week. Perhaps he is rethinking the price?
Fuld is not the only banker with a Park Avenue apartment to sell. A former UBS banker named Ramesh Singh has been trying to sell his 823 Park Ave. property. The price has plummeted from $24,750,000 to $14,500,000. This is apparently just one of several properties the banker has been selling at a discount, according to
The Real Estalker.
If a Manhattan property isn't your interest, then Lehman alum Joe
Gregory, who was once the president of the bank, is selling his summer
home in the Hamptons for $27.9 million. He's already slashed the price on the eight
bedroom beach-front house with pool by 14%, according to
The Wall Street Journal.
If Gregory can't sell he can always rent, right? Not necessarily, according to New York Magazine, which notes
rentals in the Hamptons are selling at discounts this year.
Also selling his vacation home at a steep discount is Bank of America Corp. (NYSE:BAC) CEO Ken Lewis. He put his 5,700-square-foot house in Spring Island, S.C., on the market for $3.3 million. That's actually 13% off the selling price, according to
Barrons.
It seems bankers are feeling the real estate downturn like the rest of America.
- Maria Woehr
Continue reading below
