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Ken Lewis’s Great Idea Pad Sells For $3.15 Million

They said it couldn’t be done. They said it didn’t matter if it was $4.5 million or $2.5 million or if they were giving it away. They said potentials buyers wouldn’t be swayed by the pitch to “sleep where Angelo Mozilo hath slept, after a few too many troughs of Boone’s farm” (AKA “The Mozilo Bedroom”), or to impress guests with the cocktail party fodder that “that chair you’re sitting in right now the very one Ken Lewis was sitting in when he decided to buy Merrill Lynch, can’t get better investing karma than that.” They said the vomit stains on the rug would not be a selling point. They were wrong.

Lewis, the retired CEO of Charlotte-based Bank of America, and his wife, Donna, sold his home in January to Jarrod and Frederique Daniel of Atlanta for $3.15 million, according to property records. Jarrod Daniel has worked as a plastic surgeon in Atlanta and at the Mayo Clinic in Rochester, Minn., according to an Internet search. The Lewis home originally listed for sale at $4.5 million in January 2010, just days after Lewis handed the reins of the company to now-CEO Brian Moynihan. Lewis remained a Charlotte resident, purchasing a luxury townhouse in Myers Park. The Morrocroft home (see photos here) is described in a real estate listing as an “exquisite custom home on a very private lot” with his and her’s dressing rooms, luxurious bathrooms, chef’s kitchen with paneled walls, a three-car garage and formal gardens. The home was designed by architects Ken Pursley and Ruard Veltman and custom-built for the Lewises by Whitlock Builders in 2003.

Lewis reduced the price four times. He took it off the market last summer, then listed the home again in August with a new Realtor, SouthPark’s HM Properties. It had been listed with CottinghamChalkHayes. When Lewis first listed the home for sale, The Wall Street Journal reported the house had been the site where Lewis and ex-Merrill Lynch CEO John Thain first discussed selling Merrill to BofA.

Former BofA CEO Ken Lewis sells Charlotte home for $3.15M [BizJournals]
Earlier: Sleep Where Ken Lewis Hath Slept

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25 Responses to “Ken Lewis’s Great Idea Pad Sells For $3.15 Million”

  1. Turnip Truck says:

    Having a home affordable to a plastic surgeon is the NKI, I guess.

  2. Short, But Long says:

    If he walks out his front door and is in Charlotte then he paid $3.15MM too much for the place.

  3. HotforSM says:

    I often wonder if Legg Mason's Bill Miller gives his PM, Samantha McLemore the old rusty trombone on days whent he market really tanks…….can we discuss this please? or dig up pics of her in her undies?

    S McLemore is HOT!

  4. VonSloneker says:

    "…his and her’s dressing rooms, luxurious bathrooms, [nuclear powered oompa loompa grade tanning beds]."

    – Ed.

  5. St. Copious says:

    Not surprised how widely he mispriced it. This is the guy who volunteered to pay 29 bucks a share for something (Merrill Lynch) he could have had for free.

  6. Guest says:

    We bought the REO next door and rented it to an associate at the law firm leading the mortgage fraud law suit against BofA.

    – Managing Director Och-Ziff

  7. holly hotness says:

    I'd pay $3.15 million for a day with Gemma Godfrey.

    Where did she come from?!?!?!

  8. It was really impressive published article. I do personally learn in the post and also I will share it to my friends later after reviewing. Really interesting post indeed. Thanks.

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