Three-Month Merrill Employee Peter Kraus Buys $37 Million Apartment


Investment banker Peter Kraus, formerly of both Merrill Lynch and Goldman Sachs, shocked Wall Street a couple of weeks ago when he ditched his new employer, Merrill, after three mere months of employment. But he got a nice check for his time: $25 million. No word how much the new CEO of AllianceBernstein put towards the palatial $37 million Park Avenue apartment he purchased around the same time he left Mother Merrill.

The Real Deal: Investment advisor Carl Spielvogel and his wife Barbaralee Diamonstein-Spielvogel sold their cooperative apartment at 720 Park Avenue, at the corner of 70th Street, for $36.63 million, nearly twice what they paid for it two years ago.

The sale of the seventh-floor unit closed December 18, according to property records posted Friday.

The buyer was identified as Jill Kraus, wife of Peter Kraus, a former executive vice president at Merrill Lynch who reportedly received a $25 million bonus after working at the firm for three months this year. However, only her name was listed on the property report. He was hired as chairman and CEO of AllianceBernstein on December 19. A Merrill Lynch spokeswoman would not comment on his pay package.

New York Magazine’s Daily Intel blog has more pictures of the Krauses’s new apartment here.