Celebrity Real Estate Moves To Obama and Politics?
We all know the phrase “Washington Slept Here”, but how about the new phrase “Obama Smoozed Here”?
With the new election of Obama as President and the euphoria running rampant, long time supporter James Torrey has put his 14.5 million dollar Manhattan Duplex on the market. What makes this property exceptional is that Barack Obama released his book “The Audacity of Hope” in this apartment.
So my question is, we all know that celebrity factors can boost the value of a property. Does that apply to politics and was Torrey shrewed putting up his apartment for sales right after the election to capitalize on the excitement?
Mr. Torrey, the head of the Torrey Fund, a hedge fund that invests in other hedge funds, was an early backer of Senator Barack Obama. His apartment was the setting for a party celebrating the publication of Mr. Obama’s book “The Audacity of Hope,” and for a fund-raiser back in February 2007 that introduced Mr. Obama to a platoon of bankers and investors.
But last month, after Mr. Obama had surged in the polls, Mr. Torrey and his wife, Rose Peabody Lynch, put their second- and third-floor duplex apartment, with 11 rooms and 4,850 square feet of space (not counting a maid’s room down the hall), on the market for $14.5 million. via the NYTimes.com.
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Comment by Rochester MN Real Estate on 10 November 2008:
I think that the celebrity factor totally applies … especial with Obama. I was amazed at how awe struck everyone was when he was elected last Tuesday. People were crying like it was the 2nd coming.