I will sell this house today

Want to make a difference in the life of an economically disadvantaged ex-bank chief? As some of you may recall, the collapse of Bear Stearns in March 2008 made a serious dent in former Chairman and CEO Jimmy Cayne’s net worth, shrinking $1 billion and leaving him with a net worth of mere millions. For a boy who was once in a position to buy anything his heart desired (90210 Kush, Grand Daddy Purple, Blueberry YumYum, Alaskan Thunderfuck, Lavender Hash, Northern Lights #5), it’s meant a seismic change in Cayne’s lifestyle. For example, JC can no longer justify the cost of the 10-week sleepaway bridge camp he’s attended every summer for the last 18 years. That’s where you come in. Read more »

Sleep Where Erin Callan Hath Slept

If Joe Gregory’s Lloyd Harbor manse isn’t your style, or the $22 million asking price seems excessive for a place with only 8.5 baths, take a moment to consider the former Lehman Brothers CFO’s East Hamptons pad. Read more »

Sleep Where Dan Loeb Hath Slept

The Third Point founder is reportedly looking for a buyer for his 10,674-square-foot penthouse at 15 Central Park West. If that sounds like something you’d be interested in, people hear that Loeb “wants $100 million,” which would represent a 122.22% return (DL and his wife bought the place for $45 million in 2008). While perhaps a tad pricey, consider that back in November, Sandy Weill was able to get $88 million for his 15CPW apartment, a relative dump at 6,744-square-feet.* Read more »


“How does Bill Ackman do it” is a question the investing community surely asks itself on a daily basis. Three words: Berkshire Mountains hideaway. Outsiders may figure in-depth research combined with skillful and ethical activism and a highly concentrated portfolio are the keys to Pershing Square’s success but, really, a 100-acre spread in upstate New York is the engine that drives this firm.

Specifically, the one found in Chatham, New York, that Ackman “scraped together the money” to buy in 2003, just months before his second act hedge fund launched, to arguably more success than its predecessor, Gotham Partners. Coincidence? Bill doesn’t think so. “This place has really good investing karma,” Ackman tells us. (Since buying the house, Pershing has had 21 percent compound returns. You do the math.) Is this information relevant in any way to your universe? If you’ve got $5 million to spare, a yen for sweeping views of the Berkshire mountains, and a desire to pump up lackluster returns it might be.

Despite spending many a happy (and profitable) weekend at the place over the last nine years, Ackman has with great reluctance and probably more than a few tears decided to put it on the market, having precious little time to make the (quick and painless!) trip up now that his three children have many an extracurricular commitment to tend to. According to Bill, he’s offering you “the deal of a lifetime” (and, in our professional opinions, we agree), when you consider 1) what he bought it for ($3.2 million, then put another $1.5 million in) and 2) what you’re getting. Things like: Read more »

Sleep Where Jon Corzine Hath Slept

JSC has reportedly put his Hoboken hideaway on the market, for reasons that are unclear at this time (and which we should not speculate over. Surely there are some who will be quick to suggest he’s downsizing and freeing up cash in case he needs money for legal fees but we have no idea, do we? Maybe the new venture became a success sooner than anyone thought, and he’s moving to a bigger place. Maybe he’s decided to live in France full-time). Some details, for those interested in a place with a story to tell: Read more »