Next Goldman M&A Target: Brooklyn Heights?
We got an email a few days ago from a regular tipster who’s always been right in the past so we’re tempted to give him the benefit of the doubt this time around. While pointing us in the direction of a recent sale on Joralemon Street, he noted that the buyer happened to be a…
We got an email a few days ago from a regular tipster who’s always been right in the past so we’re tempted to give him the benefit of the doubt this time around. While pointing us in the direction of a recent sale on Joralemon Street, he noted that the buyer happened to be a Goldman Sachs executive. This was, he claimed, part of a trend that’s seen members of the city’s most successful investment bank crossing the East River (more than usual) in recent months to buy a piece of the rock in Brooklyn Heights. Another broker we quizzed, who has several Goldman clients looking in the neighborhood at the moment concurred, said he knew of two Goldman deals that have taken place in recent weeks. The only bank where bonuses are expected to rise significantly this season, Goldman bankers and traders are certainly in the best position to snap up those $5 million-plus houses. Think there’s anything to this “trend” or has it just always been so?
I used to work for an investment bank downtown and now work for one in Midtown. I can confidently say that I preferred my 15 minute door to door commute to my current 30 minutes (yes I have to change trains) but that still beats the 43 minutes (only counting the time on the train and not the time to the station on either end) to whatever suburban paradise you care for. My wife and I both grew up in suburbs in other states. I have no desire to repeat that experience. I think what you are seeing is a transition in where people who work in finance want to live. In the not so distant past, once you got married, had kids and made MD, you moved out to the suburbs. That describes all of my senior management. However, my generation of co-workers is more inclined to stay in the City. That could be Tribeca, Soho or even BH. BH is great. I understand the charms of Park Slope, Cobble Hill, Coney Island, etc. I’ve been told that BH is not really a part of Brooklyn. OK, I get that. I still like it and when you work from 7 to 7 every day, its hard to beat for the convenience. Sure plenty of traders move to Connecticut, but many choose to stay in an urban environment. None of the younger traders that work for me live in the suburbs even though half of them are married. Living in the City is much more viable than it was 20 years ago. That said I don’t see a lot of Wall Street types in BH. Sure, they’re there, but the well paid professionals I run into at school or the Casino are more likely lawyers and doctors. Lots and lots of lawyers. Finally, guys from GS have always lived in BH. By the way, a VP a GS is not necessarily a low level job. There are only two official titles at GS, VP and MD. A VP can make easily make $1mm plus.
Maggie gyllenhall is only 15 minutes on the 2/3 train from my brain.
“And wall st isn’t 15 minutes from grand army plaza”
You’re right actually.
It’s more like 12 minutes.
I timed it this morning.
i ran into maggie gyllenhall this morning on my way to work.
she said park slope is the best.
she’s going to tell all her celebrity friends to move there.
“And no, not all executives take a town car. rich people are rich for a reason.”
They are rich because they make million dollar bonuses, not because they save on carfare asshole.
11:53 – Drunken office staff go to Wall St parties to
Park slope is only 15 minutes on the 2/3 train to my brain.
I have no idea how rich Grant is but he is an author not a Wall St executive and he definetly doesnt live in Clinton Hill.
I was at a Wall Street Christmas party and somebody shouted ‘Brooklyn in da house’!