Sotheby's International Realty
One of the top traders at Lehman Brothers, the investment bank whose dealings in subprime mortgages helped fuel the Great Recession, stands to reap a windfall from the sale of his home.
Robert Millard has listed his townhouse at 9 E. 88th St., near Central Park, for $38 million.
The eight-bedroom, 10-bath property cost $5.6 million in 1997, based on property records—which means Millard could be positioning himself for a nearly 700% return.
Hefty compensation
Millard, who earned $51 million before Lehman went bankrupt in September 2008—about the same compensation as Chief Executive Richard Fuld, according to filings—might know markets. He ran Lehman’s proprietary trading desk, and afterward launched the Realm Partners hedge fund, which appears inactive now.