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Auction of Dreier’s Home Offers View of Disgraced N.Y. Lawyer’s Luxe Lifestyle

Posted Jul 21, 2009 2:20 PM CDT
By Martha Neil

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The $40,000 worth of Baccarat crystal and a set of seven Dale Chihuly glass light fixtures for which attorney Marc Dreier paid $180,000 will be sold separately.

But many emblems of his luxurious lifestyle in a three-bedroom, four-bathroom "pied-a-terre" in one of New York City's most fashionable Midtown apartment buildings were sold along with the 3,000-square-foot unit at auction today for $8.2 million, reports Bloomberg.

They reportedly include gold leaf-print couches by Christian Liaigre at Holly Hunt, a hand-knotted 100-percent-silk Tibetan carpet, flat-screen televisions, a Velodyne subwoofer, a photo of Dreier with singer Diana Ross and a half-eaten raspberry peach pie. The 738-square-foot terrace also includes a five-piece patio set and a $150,000 irrigation system for the planters. The apartment's lighting and sound system are controlled by a home automation panel.

The name of the buyer, who purchased at a court-ordered sale resulting from a Chapter 7 bankruptcy filing by the disgraced founder of the Dreier law firm, isn't included in the Bloomberg article.

Two other Dreier homes in the Hamptons sold last month at auction for $3.8 million and $6.6 million. Dreier paid $10.4 million for his New York City home two years ago. His lifestyle is a lot less luxurious today, as he serves a 20-year federal prison term for swindling hedge funds of more than $400 million by selling them fictitious promissory notes.

Related earlier coverage:

ABAJournal.com: "Dreier’s High-Adrenaline Life on the Edge"

ABAJournal.com: "Marc Dreier Led Sham Law Life for 4 Years, Magazine Says"

ABAJournal.com: "Dreier’s Extravagant Lifestyle: ‘Dazzling’ Homes and $200K Secretaries"

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