Thursday, November 8, 2007
Robert C. Wright Flips Out in Manhattan
SELLER: Robert C. Wright
LOCATION: "The Heritage at Trump Place," 240 Riverside Boulevard, New York, NY
SIZE: 4,673 square feet, 4 bedrooms, 4.5 bathrooms
DESCRIPTION: ...this grand Penthouse occupies the entire 31st floor of one of the city's most prestigious white-glove condominiums. This extraordinary 9 room residence offers a private elevator landing to outstanding entertainment rooms of grand proportions, two over sized and elegant terraces, gas fireplace and soaring 11 foot ceilings...[building amenities include] Superb Fitness Center with swimming pool and spa. Garage as well as on-site valet service.
YOUR MAMAS NOTES: Bob Wright's collar is about as white as white collar gets. The gentleman currently serves as the chairman and CEO of NBC Universal and he has a coveted and lucrative spot on the board of General Electric, where he was once the President of GE Financial Services (GE now owns NBC, of course). Even the most stoopid of the children know what all that means for Mister Wright: Kaching!
According to General Electric's 2007 proxy statement, back in 2006, when he was Vice Chairman of the Board of General Electric, Mister Wright raked in a salary of $2,500,000. Which may not sound like much to the children, but his total compensation package was worth a whopping $17,823,889, including a $6,900,000 bonus. According to another website, at the end of 2006, Mister Wright's GE pension was worth in excess of $60,000,000, which means he won't be worried about the outrageous cost of health care when he's old and infirm.
Mister Wright appears to be using some of his vast income to flip a swankified penthouse in "The Heritage at Trump Place," one of The Donald's Kostas Kondylis designed architectural monstrosities that line the Westside Highway in Midtown Manhattan. Property records reveal that Mister and Missus Wright purchased their 31st floor aerie in March of 2007 for $10,695,000.
It would appear they had a nice gay decorator do the place up (is that a Giacometti sculpture in the living room?), and before the paint is even had time to fully dry, the place is back on the market with a steep price increase at $14,750,000. The Manhattan real estate market continues to sky rocket, even amid the mortgage woes in much of the country, so maybe the mega-rich executive will in fact be able to sell this penthouse on and add another $3,000,000+ to his already fat retirement fund.
The size of the full floor apartment varies depending on the source, but let's just say it's 4,673 square feet, which is the size on file with the city. Your Mama confesses that it's nearly impossible for us to actually like anything in a Trump building (sorry Donald, but your brand of luxury just isn't for us), but we do think the rooms are properly proportioned for a $10,000,000+ apartment, and the generous window size allows the residence to float haughtily above the city and the Hudson River.
The floors are spectacular and the kitchen is acceptable (Your Mama and the Dr. Cooter have the same wine cooler at our beach house!), and the covered loggias are an excellent place for relax unless your acrophobic and/or suicidal.
Property records and the relatively spare and upscale executive blah decor makes Your Mama think this sky high penthouse was intended as a pied a terre for the commuting couple who also own a big house on Sasco Hill Road overlooking the fairways of the Country Club of Fairfield in Fairfield, CT, which many say is the ugly step-child of hoity-toity Westport, CT, but let's not have that ugly debate today.
We can't imagine why the Wrights would buy and sell this penthouse so quickly. Perhaps they found the extremely west side location a little out of the way? Maybe it's just too big? Maybe they're looking to cash in an an seemingly never ending market in Manhattan that just climbs and climbs and climbs to ever dizzying prices.