It is one thing for a young banker to move to Williamsburg. It is an expected, if unfortunate, product of gentrification. But what does it say when a former Goldman Sachs (GS) boss and New Jersey political hand drops a million bucks on a Burg condo?
While former New Jersey governor Jon Corzine distracted himself from the whole MF Global scandal with plans for a new hedge fund (who wouldn’t like to think of making millions after you lose billions?), his former chief of staff, Goldman buddy and MF Global second-in-command Bradley Abelow decided to pick up another home, a condo on Karl Fisher Row overlooking the track and field at McCarren Park.
City records show that Mr. Abelow purchased a three-bedroom, two-bath condo at 20 Bayard Street through the Bradley Abelow Family 2000 Trust. Carolyn Murray, Mr. Abelow’s wife, is named as trustee.
The sponsor unit was only listed for $995,000 with Corcoran brokers deborah rieders, Sara Shuken and Yael Epstein. But what’s $5,000 to a former Goldman partner, who paid an even $1 million for the property?
Given that Mr. Abelow has a comfortable spread in Montclair, N.J., and he really seems more the Upper East Side or formerly-UES-now-Tribeca type, we doubt he bought the space for himself. Even if it is “the tallest building on McCarren Park.” No, we’d guess that this loft-like space was purchased as a crash pad for one of his kids. Sure, Wall Street types have been picking up fancy condos on the waterfront, but they’re more up-and-comers. Not suburbanites hoping to spend their weekends in the city at Brooklyn Flea. Or maybe they are?
Not that the place would make a bad pied-a-terre. Mr. Abelow could count his gold on the aptly-named Calcutta Gold marble countertops or take long, relaxing baths in the deep soaking tub to forget the headache that was MF Global.
It could also be an investment property, since the Brooklyn, especially the North Brooklyn, rental market is so hot right now. Then again, given Mr. Abelow’s recent track record (a reelection bid lost to Chris Christie, the whole MF Global thing), maybe this really is the kiss of death for the Burg.
kvelsey@observer.com
