Former Bear Stearns exec lists townhouse for $60M and will give profit to charity

The home at 11 13 West 10th Street (credit: BHS)

Looks like someone is trying to fix his karma.

Former Bear Stearns Co-President, Warren Spector, who was let go from the company during the financial panic in 2007 and was blamed for a good part of the bank’s role in that crisis, has listed his massive townhouse at 11-13 West 10th Street for $59.5 million, the Wall Street Journal reports. While that in itself isn’t all that noteworthy (Bear Stearns people are listing homes like hotcakes), what is unusual is that he has pledged to donate the profits from the sale to charity.

Those profits could be considerable; he and his late wife, actress Margaret Whitton, paid $34.53 million for the home in 2007. They did considerable renovations on it, including fixing the facade, making a double-height library (21 feet high) and creating a rear garden.

The 16,560-square-foot house is unusual in that it is particularly wide (55-feet). It has eight bedrooms plus staff rooms, an elevator, Crestron smart home system, a wine cellar with space for 2,500 bottles, a 26-foot-wide home theater and an additional 5,700 square feet of outdoor space. [WSJ]

  • Pachyderm Pachyderma

    If he was a culprit in the financial crisis of 2007-08 then he ought to give the money to the US Treasury!

    • coolobserver

      No No No, then he couldn’t get the tax deduction!

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