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Thanks, Pops! Super-Wealthy Scions Buoy Luxury Market

Call up a posh uptown broker, the kind who actually rides to appointments in a chauffeured sedan, and ask how she’s coping with this financial trudge. She’s likely to pause thoughtfully, let out a polite but exasperated little sigh, and say that one can’t ever tell for sure what will happen, can one? Then comes a longer pause and she’ll tell you, with that slight Southern twang brokers all use, that it’s surely comforting there’s still one group of buyers willing to make awfully serious New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
 deals at this awfully uncertain time.

That group is not the massively wealthy; it’s the children of the massively wealthy.

According to according to
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

 city records, Sheridan Mitchell Lorenz, whose father, the Texas natural-gas mogul George P. Mitchell George Phydias Mitchell (born 1919) is an American businessman and real estate developer from Texas. He was born to Greek immigrant parents in the port city of Galveston, Texas. Mitchell earned a petroleum engineering degree from Texas A&M University with an emphasis in geology. , is currently ranked by Forbes as No. 349 on the list of the world’s billionaires, just bought a condo at 50 Orchard Street The name Orchard Street can refer to the following roads:
  • Orchard Street (Manhattan), New York City
  • Orchard Street (London)
  • Orchard Road, Singapore
 for $1.4 million. It’s bad news for anyone paranoid about the Lower East Side turning into an enclave for the children of out-of-state billionaires, though Ms. Mitchell Lorenz at least deserves points for the unit’s quaintness. According to floor plans, the Orchard Street condo has 1,268 square feet; two 12-foot-wide bedrooms; a 19-by-16 living/dining room; an open kitchen; two bathrooms; and a walk-in-closet.

She’s not the only daughter of an octogenarian oc·to·ge·nar·i·an
Being between 80 and 90 years of age.

A person between 80 and 90 years of age.
 billionaire with new Manhattan real estate. According to a deed filed earlier this month for a deal that closed in August, Alice R. Gottesman, whose father is the investor David Gottesman
For other people named David Gottesman, see David Gottesman (disambiguation).

David Gottesman (born 1926 or 1927[1]) is a businessman appearing as #336 on Forbes' 2007 list of billionaires.
 (No. 428, though he sits on the Berkshire Hathaway board with No. 1 Warren Buffett Warren Buffett

Known as "the Oracle of Omaha," Buffett is Chairman of Berkshire Hathaway and arguably the greatest investor of all time. His wealth fluctuates with the performance of the market, but for the last few years he has been reported to be worth over $30 billion, making
 and No. 3 Bill Gates), spent $6,957,917 on two neighboring co-op units at 118 West 79th Street.

But Roy Judelson, whose father, David Judelson, co-founded Gulf & Western in 1956 and the biotechnology company Biopure decades later, has a bigger apartment. He and his wife paid $10.5 million this month for an 11-room, four-bedroom, 3,950-square-foot co-op at 33 East 70th Street. Four years ago, the elder Mr. Judelson was listed with his daughter-in-law and son, an ex-television agent who now a runs a business specializing in digitized building blueprints, on their deed for a $7,375,000 townhouse town·house or town house  
1. A residence in a city.

2. A row house, especially a fashionable one.
; this time around they’re alone. According to a source, that townhouse could be selling to the child of an “extremely, extremely well-known” financier.
Copyright 2008 The New York Observer
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Author:Max Abelson
Publication:The New York Observer
Date:Oct 28, 2008
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