• 06 Feb 2013 at 4:43 PM

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

24 comments (hidden to protect delicate sensibilities)
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Comments (24)

  1. Posted by Turnip Truck | February 6, 2013 at 4:43 PM

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

  2. Posted by Short, But Long | February 6, 2013 at 4:46 PM

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

  3. Posted by guest | February 6, 2013 at 4:58 PM

    You do realize plastic surgeons are incredibly well-paid right? He's not selling it to the night shift ER doc from Bumfuck, Alabama.

  4. Posted by HotforSM | February 6, 2013 at 5:02 PM

    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!

  5. Posted by guest | February 6, 2013 at 5:02 PM

    He was CEO of a major bank…

  6. Posted by Guy in Charlotte | February 6, 2013 at 5:07 PM

    The gated Morrocroft is about as good of community you are going to get if you want a luxury home with a 30min or less comute to uptown.

  7. Posted by guest | February 6, 2013 at 5:11 PM

    Are you under the impression DB is your LiveJournal page?

  8. Posted by ILoveLamp | February 6, 2013 at 5:11 PM

    Hey!

    -Anup Gupta, M.D.

  9. Posted by Im_a_Dude | February 6, 2013 at 5:26 PM

    I thought Macklemore was the guy from the thrift shop song

  10. Posted by VonSloneker | February 6, 2013 at 5:42 PM

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

    - Ed.

  11. Posted by guest | February 6, 2013 at 5:44 PM

    Actually they're not all. It's kind of bimodal – some do really well and others make a nice but by no means incredible living.

    Oh, and that nightshift ER doc? Making more these days than your average IBer.

  12. Posted by St. Copious | February 6, 2013 at 5:47 PM

    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.

  13. Posted by Mrs_Slocombe | February 6, 2013 at 5:48 PM

    He gets $15K for a pair of cans…does 4 sets a day.

  14. Posted by guest | February 6, 2013 at 6:06 PM

    Jarrod Daniel, is that you?

  15. Posted by Investment Boinker | February 6, 2013 at 7:17 PM

    But it's real, and it's spectacular!

  16. Posted by Turnip Truck | February 6, 2013 at 8:03 PM

    Still shouldn't be in the same league as the CEO of a huge bank. I suppose there's a limit to how much money you can spend in Charlotte.

  17. Posted by Guest | February 6, 2013 at 11:28 PM

    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

  18. Posted by guest | February 7, 2013 at 8:10 AM

    it was a mansion in Charlotte. 3.15, not a whole lot of dough for either party

  19. Posted by Guest | February 7, 2013 at 1:32 PM

    I thought he was the shooting guard for Kansas

  20. Posted by IBer | February 7, 2013 at 5:12 PM

    average?

    Had my PA look up that word. Still a bit unclear on the meaning. Seems to have something to do with waitresses or people from Ohio?

  21. Posted by holly hotness | February 8, 2013 at 12:00 PM

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

    Where did she come from?!?!?!

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