Tags: Roubini | Buys | 5.5 Million | NYC | Condo | Housing | Disaster

Roubini Buys $5.5 Million NYC Condo Despite Saying Housing 'Disaster' Looms

Tuesday, 21 Dec 2010 02:59 PM

Nouriel Roubini, the New York University economist who predicted the global financial crisis, bought a $5.5 million condominium in Manhattan, according to public records.

Roubini took out a $2.99 million mortgage to buy the condo on East First Street, according to New York City Department of Finance records. The apartment is a 3,700-square-foot triplex penthouse, according to StreetEasy.com.

“Connected by a custom cantilevered steel staircase, each level of this amazing home offers something unique and unforgettable,” reads the listing by Halstead Property broker Richard Orenstein. “On the first floor, you’ll find a massive living/dining area bathed in southern light with 11-foot beamed ceilings, exposed brick walls, a wood-burning fireplace, and light from a 50-foot expanse of oversized windows.”

Roubini, who has said there is still a risk the U.S. economy could slide back into recession, said last month that another “disaster” will happen if U.S. house prices fall again and prime mortgage defaults increase.

“If house prices are going to fall another 5 to 10 percent, another 8 million households are going to be in negative equity,” Roubini said Nov. 2 at a conference in Cape Town. “We are going to have another nasty crisis. That’s going to happen unless we do something about it. Forget about subprime, look at prime.”

Roubini, reached on his cell phone today, said he was in a meeting and didn’t comment on the condo purchase. Orenstein, the Halstead broker, declined to comment.

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
StreetTalk
Nouriel Roubini, the New York University economist who predicted the global financial crisis, bought a $5.5 million condominium in Manhattan, according to public records. Roubini took out a $2.99 million mortgage to buy the condo on East First Street, according to New York...
Roubini,Buys,5.5 Million,NYC,Condo,Housing,Disaster
238
2010-59-21
Tuesday, 21 Dec 2010 02:59 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved