2009-05-20blogspot.com

Lehman Brothers’ fall helped pop the Manhattan real estate bubble for good. But Richard Fuld, the investment bank’s former chief executive, is looking for a handsome profit on the co-op that he bought for $21 million in January 2007, according to a report in The New York Observer.

The Park Avenue apartment, which includes four servants’ rooms and five fireplaces, hasn’t been listed and is instead being quietly marketed, the Observer reporst. The listing, which comes less than a year after Mr. Fuld left Lehman without any severance pay, doesn’t come as a big shock in Manhattan real estate circles. “Everybody knows it, everybody’s just waiting for it to come on,” one broker told the Observer. “It’s not brain surgery.”


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