Fuld Seals the Deal at 640 Park

cityfile · 08/21/09 07:44AM

• A rare bit of good news for former Lehman chief Dick Fuld and his wife Kathy! The couple have closed on the sale of their 6,200-square-foot co-op at 640 Park Avenue, albeit for quite a bit less than they were hoping to make on the sale. After originally putting the apartment on the market for $32 million in May, the couple ended up selling it for $25.87 million. The lucky buyer? Glenn Fuhrman, the co-founder of MSD Capital, Michael Dell's investment fund. [Real Deal]
• Celebrity hairstylist Orlando Pita bought a condo at 101 Warren Street last September. Now he's unloaded his former co-op at 2 Fifth Avenue. The two-bedroom pad, which Pita first put up for sale in '07, sold for $2.95 million to Razorfish co-founder Craig Kanarick and his wife, Rebecca Odes. [Cityfile]

Goldman Haters Have Their Claws Out

cityfile · 08/05/09 07:13AM

Goldman Sachs has been accused in recent weeks of plotting to make a fortune from the collapse of the American economy and then plotting with Washington insiders to hand the banking industry a massive bailout. Are Goldman haters now plotting against the firm's CEO, Lloyd Blankfein, and his wife Laura? A day after it was reported the banking chief had instructed Goldman employees to play it cool comes this doozy about Laura Blankfein's alleged antics in the Hamptons last weekend:

Fuld Gets an Offer, Mnuchin Lists in East Hampton

cityfile · 06/04/09 07:27AM

• It looks like former Lehman chief Dick Fuld and his wife Kathy might unload their co-op at 640 Park Avenue, after all. The Fulds have reportedly received an offer "in the $27 million range" for the 6,200-square-foot spread—which they listed for $32 million last month before taking it off the market a week later—although they've yet to decide whether to accept the bid. [NYP]
• Robert J. Katz, Goldman Sachs's former general counsel, has paid $7.525 million for a three-bedroom, 16th-floor apartment at 860 Fifth Avenue. The seller was jewelry designer Jean Vitau and his wife Irene. [Cityfile]
• Alan Mnuchin—the former Bear and Lehman banker, founder of AGM Partners, son of Bob Mnuchin, and brother of IndyMac CEO Steve Mnuchin—has put the six-bedroom home he shares with wife Kimberly on East Hampton's Hither Lane up for sale for $17.5 million. [Newsday, Sotheby's]

Dick Fuld Flip-Flops, Bella Sapir Flips

cityfile · 05/22/09 07:35AM

• That was quick. On Tuesday, it was reported that former Lehman chief Dick Fuld and his wife Kathy had unofficially put their 6,200-square-foot pied-à-terre at 640 Park on the market for $32 million. But now it seems the Fulds have changed their minds and decided against selling it. Better luck in 2010? [WSJ]
• Bella Sapir, the ex-wife of billionaire (and endangered animal skin fan) Tamir Sapir has sold the penthouse at 250 East 53rd Street that she bought for $8.895 million in November 2008 and re-listed for $13.5 million a few days later. Sapir sold the 4,511-square-foot apartment for $10.5 million. [Cityfile]
• Columbia Law professor Hans Smit has lowered the price of his 12,000-square-foot townhouse at 351 Riverside Drive, which first went on the market for $31 million back in 2006. The mansion, which Smit bought for just $325,000 back in 1979, is now listed for $25 million. [Cityfile, BHS]

Dick & Kathy Fuld: 'What Recession?'

cityfile · 05/19/09 10:49AM

Former Lehman chief Dick Fuld may have been willing to hand over his luxe Florida home to his wife for $100, but he's looking for a little bit more from the sale of his Park Avenue apartment. Fuld purchased the 6,200-square-foot co-op at 640 Park in 2006 for $21 million. Now rumor has it he's looking to exit the building and has tapped Kathryn Steinberg of Edward Lee Cave to handle the sale. And he'd like to make a eight-figure profit on the deal, too.

Dick Fuld: Protecting the Assets That Remain!

cityfile · 01/23/09 01:20PM

A tipster just alerted us to a bit of stunning Dick Fuld news: The disgraced ex-CEO of Lehman Brothers transferred ownership of his $13.75 million Jupiter Island mansion to his wife, Kathy, on November 10th. Could Fuld be worried about the flurry of lawsuits from incensed shareholders and creditors? Possibly! According to Martin County, Florida property records, the home was previously owned by the couple jointly. Until, that is, Fuld transferred it to his wife for the princely sum of $100 on November 10, less than two months after the firm went under. The evidence (and a correction) after the jump.

More Divorce Rumors, More Cook-Brinkley Nonsense

cityfile · 01/07/09 06:38AM

Sarah Jessica Parker and Matthew Broderick may seem really happy and content with life, but it's just a carefully-constructed façade that is now crumbling to pieces because Broderick can't stop himself from cheating. Or at least that's what the Star is claiming after it caught sight of SJP socializing with a real estate broker, something you wouldn't even think of doing unless you were planning to leave your husband and move out on your own, right? [Star]
Peter Cook has filed charges against Christie Brinkley for refusing to hand over son Jack's passport so the two can go on a school trip to Egypt. [P6, OK!]
• Disgraced Lehman CEO Dick Fuld and his wife Kathy needed help using JetBlue's check-in kiosk in Palm Beach, poor things. [P6]
• Paris Hilton says she's not a slut because she's only had sex with "a couple of men," which, by that standard, means you're still a virgin. [The Sun]

Kathy Fuld's Recessiony $10,000 'Secret Shopping' Sprees

Richard Lawson · 12/15/08 12:31PM

Fabulously rich people are nothing if not sensitive. Take Kathy Fuld, who still goes on once-a-week $5,000-10,000 shopping sprees at Hermès, but nowadays, so she doesn't offend anyone, she tries to keep quiet about it.

Kathy Fuld's Secret Shopping Sprees

cityfile · 12/15/08 10:58AM

Last week, the Times reported that luxury shoppers are now doing much of their buying in secret because "shopping is almost embarrassing" given the state of the economy. The Daily Beast follows up today with the news that some high-end stores are even handing out plain shopping bags to help their customers disguise their high-end purchases. One such customer at Hermès: Kathy Fuld, the wife of Lehman CEO Dick Fuld. "Since the Lehman Brothers bankruptcy, Mrs. Fuld has still been a regular client, visiting the boutique once a week and spending $5,000 or $10,000 each time." [TDB]

The Fulds' Collection Fetches a Mere $13.5 Million

cityfile · 11/13/08 07:20AM

Looks like Christie's is out $6.5 million. At auction last night, Richard and Kathy Fuld's collection of drawings failed to reach the $20 million that Christie's had guaranteed the couple. The sixteen works fetched just $13.5 million, in keeping with the lackluster response to many other lots on the block. (A 1964 self-portrait by Francis Bacon, estimated at $40 million, didn't attract a single bidder.) One of the Fulds' drawings that fetched a decent price was an Arshile Gorky that Matthew Marks paid $2.2 million for, although that still barely hit the low estimate. But just so you know, it wasn't as if there was any connection between Kathy Fuld selling the art and the spectactular downfall of her husband's career. "I've been selling things for the past few years," Kathy told a reporter recently. "But nobody cared until now." [NYT, ABC]

The Fulds' Art Goes Under the Hammer

cityfile · 11/12/08 08:35AM

It will be a big night for disgraced Lehman CEO Dick Fuld and his wife Kathy: The couple's collection of postwar drawings goes up for auction at Christie's this evening. The Fulds reportedly made arrangements to sell the pieces over the summer—and the auction house gave them a $20 million guarantee, a decision it probably now regrets—although news of the sale emerged four days after the investment bank went bust. Works by Willem de Kooning, Barnett Newman, Arshile Gorky, and Agnes Martin will be available to those who still have a few million to spare (and who aren't too deterred by the Fulds' bad mojo). Meanwhile, some of the art that Dick once enjoyed seeing on the walls of Lehman Brothers will also be coming to market in the near future: The bankrupt bank is selling $8 million worth of pictures currently languishing in warehouses in New York and Paris.

The Fulds Will Not Be Defeated

cityfile · 11/06/08 10:20AM

Former Lehman Brothers CEO Richard Fuld led his firm into bankruptcy, was subjected to blistering criticism by lawmakers on Capitol Hill, was officially "terminated" yesterday by the firm he led for a quarter-century, and will be selling off $20 million worth of art next week to keep up his lavish lifestyle. So how is he handling the roughest stretch of his life? He's doing okay! At the New York Public Library benefit on Monday, an Observer reporter spotted Fuld and his wife, Kathy, and reports the couple was "looking relatively cheery." [NYO]

Kathy Fuld Liquidates a Few Assets

cityfile · 09/26/08 07:39AM

If you're stressed out about losing your job or not being able to pay your mortgage, you may want to take a lesson from Kathy Fuld, the wife of Lehman CEO Dick Fuld and the man who will forever be known as man who led the firm into bankruptcy. According to art dealers, Kathy has put a set of Abstract Expressionist drawings worth some $20 million up for auction. She didn't waste any time either: Christie's announced the November 12th sale of the drawings just four days after Lehman went bankrupt. The Fulds aren't exactly in the poorhouse—Dick took home $35 million last year—but Kathy's a sensible gal and replenishing the coffers isn't the worst idea in the world when you have a large estate in Greenwich and mortgages on a $20 million Park Avenue co-op and $13 million Florida beach house.

Dick Fuld Has $100 for the Special Olympics

cityfile · 09/02/08 10:31AM

It's been a rough few months for Lehman Brothers CEO Dick Fuld. Many harbor doubts the bank will survive as an independent firm for much longer; clients have been abandoning Lehman in droves; and Fuld has been aggressively trying to raise money, a process that hasn't been easy although he may have found a savior in a Korean bank as of this morning. No matter what the outcome, though, it's clear Fuld's golden reputation has been tarnished. Several of his deputies have been forced out. Last week he announced another round of layoffs that will cut the payroll by 1,500 jobs. So who doesn't dislike Dick at this moment? The beneficiaries of the Kathy and Richard S. Fuld Family Foundation are presumably standing by his side, just as long as he makes good on all the donations he's promised. After the jump, what Fuld did with the $1.8 million he donated to charity for the most recent year publicly available, including the Museum of Modern Art ($379,960) and Middlebury College ($477,500). We're guessing, though, that Lehman doesn't have too many developmentally disabled employees in the mailroom. Fuld's smallest donation? A $100 check to Special Olympics of Connecticut.