Lawyerly Lairs: Aaron Charney's De-Luxe Apartment in the Sky-y-y
In Lawyerly Lairs, a recurring ATL feature, we check out the luxurious homes of prominent figures within the legal profession. If you share our addiction to real estate porn, this is a column you're sure to enjoy.
In recent editions of Lawyerly Lairs, we've visited a $2.8 million mansion in Cambridge, MA, home to celebrity law professors Noah Feldman and Jeannie Suk ("Feldsuk"); a $20 million Park Avenue pad, recently sold by Cravath partner John Beerbower; and a $29 million townhouse, owned by Columbia Law professor Hans Smit (and resided in by his son, Simpson Thacher partner Robert Smit).
Today we look at a residence which, while not as lavish as these spreads, should still be of great interest to ATL readers. It's the Hell's Kitchen apartment of celebrity litigant Aaron Charney. It's in a high-rise, luxury condominum building called the Orion (pictured at right).
Join us after the jump, won't you?
All of this information was assembled using public records and the internet. We went to no extraordinary steps to compile it. In fact, we didn't even get up from our chair to write this report.
We have omitted mention of Aaron Charney's street address (even though it appears on his publicly-filed complaint). So this is all fair game.
Okay. Think back to late 2006. Was M&A associate Aaron Charney expecting a truckload of cash from Sullivan & Cromwell, in settlement of his contemplated lawsuit against the firm, alleging anti-gay discrimination and retaliation?
City records show that in late November, Charney closed on an $820,000 condominium in the fancy new Orion building, on the west side of Manhattan. The deed was dated November 27, 2006, and was filed with New York City on December 5, 2006.
Charney financed this purchase with a $656,000 mortgage -- 80 percent financing. Perfectly respectable; not overly leveraged. This means he put down about $164,000 for the purchase.
What do we know about Charney's unit (hehe)? Not as much as we might like. According to one commenter, who described Charney as "a good kisser," ABC's apartment is decorated with "pictures of his mom and dad (ALL over)." How sweet!
We do know a fair amount about the building as a whole. It's a 61-story, condominum tower, on the corner of 42nd Street and Ninth Avenue in Manhattan (Times Square / Hell's Kitchen). We're told that it's one of the five tallest residential buildings in New York City.
The New York Times recently ran a feature on living in the Times Square neighborhood, and it singled out the Orion for special mention:
The Orion Condominium has four one-bedroom apartments available, at prices of $715,000 to $735,000. The building has a gym, three exterior decks, pool and hot tub, and offers a free Starbucks breakfast to residents every day, said Jason Karadus, a vice president for the Corcoran Group.
Here's a property description from an advertisement for another apartment in the development:
A full-service luxury concierge condo run by prestigious Abigail Michael Concierge. Building has fully-equipped gym with the highest technology by La Palestra, free breakfast included in common charges, cold storage for deliveries, parking garage, full-time super and 'round the clock staff. Midtown location is the artery to all major subway and bus line in a neighborhood poised to be a major destination for luxury retail and restaurants.
A free Starbucks breakfast -- plus a state-of-the-art gym, to work off all the calories in that maple oat nut scone? Awesome. We know Aaron has enough free time to take advantage of these amenities.
Although the city records don't state the square footage of Charney's apartment, we can hazard a guess at the size of his unit. As you can see from the ever-helpful Trulia, or from this list of apartments currently for sale, apartments in the Orion generally go for about $1300 a square foot. So if we assume a price of $1300 a square, Charney's apartment is probably about 630 square feet in size.
To those of you who have never lived in Manhattan, that may sound like a shoebox. But to those of us who have, 630 square feet is positively palatial!
Congratulations on the purchase of your new home, Aaron! If you ever want to have us over for coffee and leftover Starbucks pastries -- we LOVE their cinnamon scones -- you know how to reach us.
Updates (4:50 PM):
1. It's worth noting that Aaron closed on his apartment in November 2006. Presumably he went into contract several weeks earlier. We don't know whether prices in the building would have been higher or lower in fall 2006 than they are today.
2. We don't know whether she ultimately purchased a unit in the building. But aging supermodel Rachel Hunter, the former Mrs. Rod Stewart, did take a tour of the premises.
Further Updates (5:10 PM):
1. As one of you notes, Charney may have put a contract down in the apartment back in 2005, before the building was finished -- and, of course, before the alleged harassment began (in spring 2006). So perhaps he bought the apartment in anticipation of a long and successful career as a corporate lawyer at Sullivan & Cromwell.
ACRIS Online City Register [NYC.gov]
Slogging to sparkle on far West 42nd Street [The Real Deal]
The Orion [Trulia.com]
2-bedroom, 2-bath condo in the Orion [Corcoran]
Apartments for Sale in the Orion [natefind.com]
Those Neon Lights? Just as Bright as They Say [New York Times]
Rachel Hunter, Several Stories Up and Other Stories [Fox News]
Comments
I'm really starting to feel sorry for Aaron.
In December last year he must have thought his worst case scenario was a settlement payment from S&C, and a discreet move to another firm's M&A group.
Now, he's unemployed (and perhaps unemployable), and facing a protracted lawsuit against a deep-pocketed and very pissed off adversary.
Oh, the fall...
Posted by: Anonymous | February 14, 2007 04:31 PM
He still has it better than 90% of tier 2 grads.
Posted by: Loyola 2L | February 14, 2007 04:34 PM
So if anything happens to Charney do we blame Lat for making an issue of where he lives and stuff? Sure it was on the complaint I guess but still...
Posted by: Anonymous | February 14, 2007 04:43 PM
HEY LAT: Now that you showed us where the Plaintiff lives and so on - how come no equal creepy stalker-like stuff from you about the other people mentioned? Hey! Show us YOUR place and tell us how much you paid and stuff, ok? :)
Posted by: Anonymous | February 14, 2007 04:44 PM
Oh, he's definitely unemployable now.
Posted by: Anonymous | February 14, 2007 04:46 PM
Please let Lat do his job. He's a reporter.
Posted by: anon | February 14, 2007 04:47 PM
4:44 PM: Lat did use his old blog to pimp out his Manhattan condo when it was on the market:
http://underneaththeirrobes.blogs.com/main/2006/02/the_future_of_t.html
(But the link to the listing no longer works.)
Posted by: Anonymous | February 14, 2007 05:02 PM
From what I hear, most of the decent apartments in the Orion were sold more than a year before the building was completed. The apartments went on sale in March 2005. I suspect that Charney put a contract down on his apartment in '05, and then didn't close on it until '06.
Posted by: Anonymous | February 14, 2007 05:04 PM
I'm not sure his purchase of this place means anything about expecting a settlement. This 820K place -- with dirt cheap maintenance and taxes (due to abatement) -- is probably more affordable than most 650K crappy one bedroom coops in this city that come with 1500/month in maintenance charges.
Posted by: JD | February 14, 2007 05:10 PM
Lat, can we get a thread dedicated to the plight of those poor associates down their in Texas (who apparently, are the last ones to get a raise)?
Posted by: Rich NY Associates | February 14, 2007 05:13 PM
I agree. Looks like The Orion units were pre-sold b/f constuction. Lat didn't do all the invesitgation we've come to expect from him.
Posted by: Anonymous | February 14, 2007 05:14 PM
5:14: refresh your browser, see further updates.
Posted by: Anonymous | February 14, 2007 05:20 PM
Thanks for the updates
Posted by: Anonymous | February 14, 2007 05:33 PM
5:14:
It's pretty normal for someone who buys a unit before construction to resell that unit a year later (often for a substantial profit) when the construction is completed. Maybe Charney bought on a resale.
Posted by: Anonymous | February 14, 2007 05:33 PM
I don't think so
Posted by: Anonymous | February 14, 2007 05:35 PM
He didn't buy on a resale. The ACRIS shows he was the 1st buyer. Duh people... some lawyers you are
Posted by: Anonymous | February 14, 2007 05:36 PM
When will Texas raise? We need a new thread.....
Posted by: Anonymous | February 14, 2007 05:53 PM
Texas! Texas! Texas! Texas! Texas!
Posted by: Anonymous | February 14, 2007 05:54 PM
Let's just take this thread over. Anyone heard latest on V&E?
Posted by: Anonymous | February 14, 2007 05:55 PM
V&E folks, are you out there???
Posted by: Anonymous | February 14, 2007 06:01 PM
New thread for salary stuff is up here:
http://www.abovethelaw.com/2007/02/skaddenfreude_end_of_day_open_2.php
Posted by: Anonymous | February 14, 2007 06:02 PM
Do we know what floor ABC's apartment is on?
Posted by: Anonymous | February 14, 2007 06:05 PM
5:14:
It's pretty normal for someone who buys a unit before construction to resell that unit a year later (often for a substantial profit) when the construction is completed. Maybe Charney bought on a resale.
Posted by: Anonymous | February 14, 2007 05:33 PM
That was during the real estate bubble. Not these days. People who do that now are looking not to take a loss.
Posted by: Anonymous | February 14, 2007 06:13 PM
Loyola 2L,
Your posts scream out: "I am a loser".
Posted by: Anonymous | February 14, 2007 06:32 PM
Hey, abovethelaw makes a footnote in S&C motion to dismiss!
Posted by: Me | February 14, 2007 07:05 PM
Why do you think I'm a losre. I am in the top 25% of my class and still can't get a job (after sending out 200 resumes). The fact that you pick on tier 2 students shows you are a loser.
Posted by: Loyola 2L | February 14, 2007 07:14 PM
PLEASE stop feeding the troll!
maybe some of you are new to the internet, but Loyola 2L is just another troll who wants to direct all the attention in every thread to him, and his problems. JUST IGNORE HIM.
Posted by: Anonymous | February 14, 2007 07:19 PM
It is so much more complicated than that. There are actually a large number of people posting under the name "Loyola 2L" and loving how irritated everyone becomes. I am letting you in on the joke, but will assume the joke will continue to work in the future.
Posted by: Loyola 2L | February 14, 2007 07:26 PM
Looks like Charney is going to default both on his complaint and his mortgage. Plus there's no way he gets $820k for his condo in this market when he has to sell it. I'd say poor kid, but he brought it on himself.
Posted by: Anon | February 14, 2007 07:41 PM
Fellow L2L, Great job in this thread. Simple and to the point.
Posted by: Loyola 2L | February 14, 2007 07:47 PM
Loyola 2L, you are much better than me - I cant even get a job at a PI firm. You are a snob to those of us in the 4th tier.
Posted by: UnivBaltimore2L | February 14, 2007 07:50 PM
seriously, who has better prospects, top 25% at a second tier school like Loyola, or middle 33% at a bottom of the first tier school like George Mason? I need to know asap.
Posted by: first tier but shitty grades | February 14, 2007 07:53 PM
I think we're pretty much equal. Don't expect biglaw.
Posted by: Loyola 2L | February 14, 2007 08:12 PM
i feel sorry for all of you. in my school everybody makes it to biglaw, no matter how shitty your grades are, and no matter how stupid you really are
Posted by: ivy league | February 14, 2007 08:18 PM
who has a copy of s&C's motion to dismiss?
Posted by: Anonymous | February 14, 2007 08:32 PM
Maybe Charney can sell the movie rights to his story or something now, since a multimillion dollar settlement ain't happening. Alas, that movie has already been done ('Philadelphia'). Oh well, there's always Playgirl magazine, I'm sure they'd be happy to have him pose.
Posted by: Anonymous | February 14, 2007 09:25 PM
9:25 PM: Aaron Charney in Playgirl??? YUMM... I'd buy that issue...
Posted by: Anonymous | February 14, 2007 09:55 PM
Mortgage banks allow for an 80/10/10 structure. An 80% mortgage, a 10% HELOC (home equity line of credit) and 10% down payment by Buyer. This is structure to avoid PMI.
Posted by: Anonymous too | February 15, 2007 12:45 AM
sending out 200 resumes? you are an idiot. no one hires from unsolicited resumes sent in. Spend some time at bar association events, make some phone calls, talk to some people, make some contacts. Lawfirms hire people, not paper. Your resume is in the trash.
Posted by: save the paper | February 15, 2007 01:06 AM
Loyola 2L, perhaps if you posted a bit less and spent more time, say, STUDYING THE LAW, those employers would come knocking...
Posted by: Anonymous | February 15, 2007 01:09 AM
David, how about using ACRIS to find the real estate locations for the other attorneys involved in the case. ACRIS allows for name searches for all 5 boros. If you don't find them in NYC, check Westchester, etc., which also has stuff online.
Posted by: Anon | February 15, 2007 11:13 AM
David's New address is 1499 MASSACHUSETTS AVENUE, NW, #1213, WDC 20005 (per ACRIS)
He previously lived at 159 WEST 53 STREET, #25C, NYC 10019
Posted by: Real Estate Shark | February 15, 2007 11:23 AM
1499 Mass. Ave. -- that's the Post building. Nice digs (but expensive).
Posted by: Dupont Circle | February 15, 2007 11:29 AM