Former Lehman Brothers CEO Dick Fuld is apparently like all those other Americans who thinks he has a right to sell his home for more than he bought it for — market be damned!
This is a well-known phenomenon, across the country from suburbs to Inland Empire exurbs and apparently even tony Park Avenue digs.
According to the Observer, Fuld and his wife Kathy are hoping to get $32 million for their apartment at 640 Park Avenue, having paid $21 million for it in January 2007.
Evidently he spent million in renovations, so that may be how he justifies the price increase, but we’re sceptical he can pull it off. Let’s see if he’s learned his lesson about holding onto something for real estate assets for too long while barreling over a waterfall.