Real estate is the equalizer in New York, affecting all walks of life. It doesn’t matter if you’re a public school teacher or a stock roker, you must find an apartment.
But some take it a little further.
Dominick Ligresti, a dermatologist with offices in New Jersey and Staten Island, has been especially active in the Manhattan real estate market, buying and selling enough apartments that some might wonder how much dermatology he has time for.
Dr. Ligresti’s most recent purchase is a penthouse at the Costas Kondylis-designed and Arun Bhatia-developed Capri at Sutton Place, which the doctor bought for $2.725 million, according to city records.
But that’s just the beginning of the doctor’s activities. Dr. Ligresti has spent at least $15,300,950 in different purchases of Manhattan apartments, and has made at least $13 million in sales, according to city records.
It all began in August of 2003, when city records show the first purchase done by the dermatologist. Dr. Ligresti dropped a mere $610,950 on a condo unit in 200 East 69th Street. At this point, he doesn’t look like too big of a player; a less-than-a-million-dollar condo in Lenox Hill isn’t too noteworthy.
But, in May of 2004, Dr. Ligresti dropped another $2.695 million, this time on a place at 144 East End Avenue, a neighbor to Gracie Mansion. He didn’t hold on to this property for long, though, as city records show its sale for $3.3 million in May of 2005.
Dr. Ligresti must have been happy about his half0million gain, but he didn’t stop there. In May of 2005, he purchased a condo at 71 Murray Street for $3.42 million. The condo has just over 4,000 square feet and is still owned by Dr. Ligresti, according to PropertyShark.
Perhaps to even out do these big purchases, Dr. Ligresti also sold a condo in 2005, although city records do not have a listing for when he purchased it. The apartment was in 422 East 72nd Street, where Dr. Ligresti’s unit 35C sold for $1.7 million.
2006 was an inactive year for Dr. Ligresti, but he made up for it in 2007, purchasing a $2.65-million condo at 106 Central Park South in January; a $3.2-million condo at 845 United Nations Plaza in July; and an $8-million condo at 1 Central Park West, Trump’s International Hotel and Tower, in August. Then there’s the most recent purchase at the Capri, which went through in November. That’s quite a lot of investing from a Staten Island dermatologist!
The Observer tried to get a hold of the doctor but his receptionist at his New Jersey office said he was in the middle of a “procedure”. Must be a pretty costly procedure if Dr. Ligresti can afford all of these high-class pads.