Former Lehman COO Unloads $4.4 Million Manhattan Apartment

Former Lehman COO Joseph Gregory finally sold his home. Unfortunately, it’s a relatively inexpensive $4 million apartment not the $32.5 million Hamptons estate he’s been trying to unload since July. But at least he still has a place to stay while he looks for more modest digs.

Plus, Gregory actually managed to turn a profit on his place, selling it for roughly $1.5 million more than he paid in 2004, which means he’s one of the rare Wall Street execs who actually made money this week. The only problem: He’s not a Wall Street exec anymore.

New York Observer: [A]t 610 Park, home to Daniel Boulud’s eponymous restaurant, Lehman’s ousted president and chief operating officer Joseph M. Gregory has already sold his place. According to city records, Mr. Gregory, who was saddled with blame for the firm’s hefty mortgage bets when he lost his top job in June, bought the two-bedroom apartment for $2.85 million back in 2004, and sold it earlier this month for $4.4 million.

That’s only $50,000 less than his asking price, which suggests that the city’s fallen financiers won’t be suffering too awfully. On the other hand, Mr. Gregory still has to sell his Bridgehampton estate, reportedly on the market for $32.5 million. He didn’t return calls to a house in Lloyd Harbor.

See Also: Houses Of The Crash
Demoted Lehman COO Joseph Gregory Selling $32.5 Million Hamptons Mansion

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