Thursday, April 18, 2024

A Charitable Crib

Ex-Bear Stearns banker places £47.7 million New York mansion for sale at a sum 1,123% higher than its 1996 sale price – all profits from the sale to go to charity

 

A third of the width of an NFL football field, 11 13 West 10th Street in Greenwich Village, New York was until recently the home of the actress Margaret Whitton (1949 – 2016) and her ex-Bear Stearns banker husband Warren Spector.

 

Owned by the Ladies Christian Union from 1919 until 1994 and by the New York University Law School from 1994 to 1996, when it was sold to a “blogging venture capitalist” named Fred Wilson for $3.9 million (the equivalent of £4.8 million, $6 million, €5.7 million or درهم22 million today), this 16,560 square foot, 23 room Greek Revival mansion was bought by Spector and his wife on a $37.5 million listing price (the equivalent of £46.5 million, $58 million, €54.9 million or درهم213 million today) in 2006.

 

11 13 West 10th Street, Greenwich Village, New York, NY 10011
Warren J. Spector was asked to resign from Bear Stearns in August 2007 after the collapse of two hedge funds tied to sub-prime mortgages
Twice married Margaret Whitton (1949 – 2016) worked with Michael J. Fox, Mel Gibson, Kurt Russell and Robin Williams during her career; she died after a brief battle with cancer at her Florida home on 4th December 2016

 

Now for sale for £47.7 million ($59.5 million, €56.3 million or درهم218.5 million) in the wake of Margaret Whitton’s death, representatives for Spector have announced that “100% of the profits from the sale will go to charity”.

 

Offered by Brown Harris Stevens, the 7-floor house – which datres to 1847 and was originally built for the Wall Street financier known as the originator of the railroad bond system Richard H. Winslow (1806 – 1861) – includes 8 bedrooms, staff quarters, a 2,500 bottle wine cellar, a music room, movie theatre, gym and greenhouse.

 

Spector, who had been tipped as Bear Stearns’ “next chief executive” and was its second largest shareholder before the firm’s collapse and acquisition by JP Morgan Chase in 2008, is said to have “hosted frequent concerts and fundraisers for a variety of different charities and non-profits” in the building.

 

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4 COMMENTS

  1. This idiot banker would do better to donate his ill gotten gains to Donald Trump’s cause as then he might get a bit of forgiveness for his dastardly deeds!!!!!!!!!!!!!!!! I bet him and his wife were supporters of Crooked Hillary!!!!!!!!!!!!!!!!! Looks like someone who should have been locked up!!!!!!!!!!!!!!!!!!!!!!!!

  2. No, no, bland is good. Some of the furnishings are a bit naff – is that the staging or the owners’ taste? – but I’d happily accept in a gift, if I could persuade everyone I were a suitable charitable cause. Btw, why is there a table tennis table in the library?

  3. Is he related to Phil Spector? No matter how hard I try I just cannot take rich Americans seriously. They are just so tasteless and think kitting out their hideous homes like a Ralph Lauren store is good taste.
    At least the Donald’s taste is blatantly and unashamedly vulgar

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