NYU Law Pays $4.2M for New Prof’s Condo
Posted Jan 23, 2008 10:07 AM CDT
By Debra Cassens Weiss
New York University law school apparently helped lure professor Catherine Sharkey from Columbia University with the purchase of a multimillion-dollar, 4,000-square-foot condo for her in a complex overlooking Central Park.
A foundation associated with NYU paid $4.2 million for an 80 percent interest in the condo at 455 Central Park West, the New York Times reports. Sharkey and her partner bought the remaining 20 percent interest for $1.05 million with the help of a mortgage from the foundation, according to property records examined by the Times.
Sharkey is an expert in product liability law and empirical legal studies. NYU announced last June that it had recruited her .
NYU also owns a $3.5 million condo in Greenwich Village and a $2.35 million condo in Brooklyn. NYU spokesman John Beckman said it usually charges rent to faculty members who use the foundation’s apartments. “New York is attractive to some of the best scholars in the world, but we have to deal with the New York real estate market,” he told the Times.
A hat tip to TaxProf Blog, which posted the story.