A first-generation American daughter of Puerto Rican parents, Priscilla Almodovar has a corner office with jaw-dropping views on the 45th floor of a Manhattan skyscraper—home to one of the most powerful banks in the world. The native of Sunset Park, Brooklyn, is working tirelessly to deploy J.P. Morgan Chase’s colossal balance sheet in the section of the real estate world she’s most passionate about: the less-than-glamorous but increasingly important affordable housing industry.
“I am exhibit A for the American dream,” Ms. Almodovar told Mortgage Observer during an interview at her office in January.
The 21-story co-op building at 1080 Fifth Avenue once had over 70 units, Stribling broker Marcy Pedas Sigler recently told The Observer. Today, due to combinations, it has a mere 45, one of which—the entire ninth floor—recently sold for $15 million, according to city records.
“This building has coveted views,” Ms. Sigler, who herself lives on the 16th floor, said. “It’s where you come if you want to see the sun, moon and stars. The astronaut Scott Carpenter used to say these were the best views he’d ever seen. And he’d orbited the earth several times.” In her apartment at 1080 Fifth, Ms. Sigler introduced Mr. Carpenter, who died earlier this month, to his fourth wife Patty Barrett Carpenter, who had been a client. Though she was not responsible for the matchmaking involved in the ninth-floor unit, which was not listed publicly.
A Humbled Wall Street
The four-story townhouse at 150 East End Avenue has a dramatic past, which is not to say that it has been the site of undue drama. Once the home of 20th century stars of stage and screen Lynn Fontanne and Alfred Lunt (both members of the married pair were honored with Emmy and Tony awards; Mr. Lunt also received an Oscar), the 2,520 square-foot property has belonged to the Lincoln Center Theater’s longtime artistic director Andre Bishop since 2008.
Alas, Mr. Bishop, who acquired the home for roughly $4.1 million, has decided to pass it off to somewhat less colorful buyers, city records show—for the price of $4.5 million.
In 1987, I began my rookie assignment on the stock sales and trading desk for Morgan Stanley. A few weeks later the stock market crashed, and I learned my first important lesson about the pecking order on the Street. As a newcomer, my senses were on high alert. Across the floor, a trader named Chuck stood with a phone pressed hard against his ear as he barked out ear-piercing commands. Closer by, I found an island of serenity as the carnival of capital plunged into chaos. His name was Lou, and he was a smooth-talking senior salesman with a magnificent collection of suspenders.
Trading operations at Knight Capital Group are running again after the firm was forced to stop accepting orders yesterday amid a power outage at its Jersey City headquarters.
The market maker, which had been running on backup generators since Sandy landed on Monday evening, is said to have lost power around 11:45 a.m. yesterday. According Read More
Politico got its hands on a copy of Greg Smith’s Why I Left Goldman Sachs, and published some excerpts yesterday. There’s an allegation that the bank advised clients to buy and sell stock options on European banks amid the region’s ongoing debt crisis, so that the firm could profit by taking the other Read More
Remember William Bryan Jennings wild ride? Last December, after Morgan Stanley’s Christmas party, the firm’s former head of bond underwriting hailed a cab in Midtown and directed the driver to his home in Darien, Conn. When they arrived, cabbie Mohamed Ammar quoted a price that Mr. Jennings found excessive, and in the fracas that ensued, was alleged to have stabbed Mr. Ammar in the hand with a pen knife.
That story emerged in March, when Mr. Jennings—who no longer works at Morgan Stanley, according to Bloomberg—was charged with assault and intimidation by bigotry.
Accounts varied. Mr. Ammar said that Mr. Jennings refused to pay the fare of $204 dollars, told the cabbie “I’m going to kill you. You should go back to your country,” and stabbed him in the hand with a 2 1/2 inch blade during a roadside altercation. Mr. Jennings said that the driver demanded $294, then started driving the banker back to New York City when he refused to pay.
All charges, including a larceny charge over the unpaid fare, will be dropped on Monday, according to Reuters:
Naval enthusiast Paul Singer of Elliott Management and secretive Mexican financier David Martinez are still battling in court, according to The New York Times. Mr. Martinez is said to have a $140 million painting by Jackson Pollock in his Time Warner Center apartment, but no one is willing to stake their name on it. Also Read More
Footage of Mitt Romney’s remarks about the 47 percent voters who don’t pay taxes or depend on government assistance—”I’ll never convince them they should take personal responsibility and care for their lives”—was taken in the Florida home of Marc Leder, co-CEO of private equity firm Sun Capital Partners, said David Corn, the reporter who published video clips at Mother Jones. Mr. Leder, a part-owner in the Philadelphia 76ers, is as TPM points out, also known for his bacchanals: “At the Bridgehampton home that Leder rented for a whopping $500,000 a month, guests cavorted nude in a pool and performed sex acts, while scantily clad Russian women danced on platforms,” The New York Post reported last year.
Morgan Stanley is going to win out over Citigroup when a mediator places a value on the Morgan Stanley Smith Barney brokerage, The New York Post reports. The two banks have disputed the value of the joint venture: Morgan Stanley, which owns 51 percent of the brokerage and plans to acquire remaining shares, said Read More