It’s just under a million which might not seem like that much but I can think of a certain someone who wouldn’t thumb his nose at a mill right about now. The Observer reports that Bank of America has sold its pad at the Time Warner Center, which will mean one of you will have to put Ken Lewis up for the night when he flies up to NYC for one last hurrah as CEO, which will take place the entire month of December.
On Friday, just after Bank of America announced a billion-dollar loss in the third quarter, a deed in city records showed that the massive firm had sold off its corporate apartment in the Time Warner Center for $7.2 million. On the bright side, it cost $6.35 million to buy three years ago.
Especially on a dark afternoon like this one, you stare up at the twin-towered, 53-story, 2,800,000-square-foot, sharp-edged, nefariously shiny Time Warner Center and wonder what really goes on in the multimillion-dollar condos. According to James B. Stewart’s 19,148-word epic on the financial world’s collapse, it was in this Bank of America sprawl–on the north tower’s 57th floor–that chief Ken Lewis met Merrill Lynch’s John Thain on Saturday, Sept. 13, 2008, to talk about a merger.
is there vomit on the walls?
maybe citi should sell vikram’s apt to turn a profit?
Including depreciation, I estimate BofA’s total profit on this sale at just shy of $3.6 billion.
- former Lehman Real Estate Analyst
@1
No but be sure to check the decorative pottery before moving it about.
I’ve got more credibility than KL
#3 – lmao…
@3 Well, actually, if you strip out broker compensation/bonuses, the total return will be closer to $7 billion. Cuomo gets to deal with these fees later.
- former BofA lawyer
Vatican News: Market Watch: Jesuits to open archive on Pius XII
Vatican finances in the reign of Pius XII