With bonus checks just starting to clear, the young and newly-monied Wall Streeters are pushing aside the pundits’ calls of a real estate bubble and snatching up Manhattan properties like there’s no tomorrow.
Keith Copley, of Sotheby’s International Realty in Manhattan, is seeing bidding wars, mostly among young hedge fund players. ”The bonuses are rolling in and people are going crazy.” Three are competing for a “celebrity style loft” called the Glass Farmhouse, with views of the Hudson River, for sale for about $8 million. “All these guys are in their thirties,” he says, and he expects a deal soon.
Wall Streeters Ignore Bubble [The Australian]
$26 Million dollar bonus? WTF?
- where did this guy go to school?
- how much is his annual salary
- how many hours a week did he work
- how long before I get into a position like that?
Just asking so I can prepare myself after my MBA.
The guys did not get to where they were by being stupid. Real estate is still the best place to stash the dough when it’s coming in fast and furious.
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