How Peter Kraus Spent His Hard-Earned Bonus Money


Peter Kraus worked hard in the three months he spent at Merrill Lynch this fall — and the $25 million in bonus cash he earned for his troubles was just enough to allow him to afford to buy Carl and Barbaralee Spielvogel's apartment at 720 Park for $36.63 million, twice what they paid for it two years ago. And it is worth it. According to Brown Harris Stevens:

The baronial living room has 11' ceilings with exquisite crown molding, a wood burning fireplace and intricate parquetry floors. The formal dining room is grand for entertaining but cozy enough for family suppers with its wood burning fireplace. The beautiful in-laid floors are repeated here and the dental crown molding, plaster relief encircling the chandelier and rich Venetian plaster walls make for a stunning room. The library off the living room is paneled in rich mahogany and has a third wood burning fireplace.

Did you see that? Baronial. The kind of word that brings to mind, like, royalty. Also robber barons. Plus, the Realtor notes, the apartment has "heavy, six-panel doors," which will come in handy when the clamoring hordes of starving angry peasants descend on the building.

AllianceBernstein CEO pays $37M for pad at 720 Park Avenue [Real Deal]
720 Park Avenue [Brown Harris Stevens]

Earlier: Merrill Exec Scores $25 Million for Three Months Work