MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, July 24, 2003 Price Shopping in Manhattan What do you do once you make a fortune in the fund industry by finding bargains? Well, you could always shop for that special Manhattan apartment with a panic room. Or you could find a real estate bargain. Leave it to Michael Price to find both in one package. The New York Post today reported that the legendary former fund manager is eyeing a Manhattan townhouse now owned by Pia Getty. Price is reportedly offering "somewhere in the $10 million range" range for the four-bedroom, seven-bath and six-story townhouse located on East 78th Street. The townhouse is also extra secure. As a first line of defense it offers illegally high walls (at 17 feet they are 10 feet over the limit). Those approaching the normal way face a built in security system that includes a key-card entry gate and a ram-proof and bulletproof front door, according to the paper. Once inside, infrared detectors and cameras track the all movements. In case intruders defeat all of the above it also features a "panic room." Of course, this panic room presumably comes without Jodie Foster but it does have 12 television monitors, a refrigerator, food supplies and "a door that could survive a major blast." Likely as not it is likely that it is another feature that Price finds most attractive. After all, the townhouse could also be termed a bargain. When Getty first put it on the market in April of 2001 she was asking $16 million. By last fall two bidders were offering $10.8 million but then both offers fell through. Based on Price's track record, the safe bet is that he is offering even less than. Printed from: MFWire.com/story.asp?s=5554 Copyright 2003, InvestmentWires, Inc. All Rights Reserved |