High profile divorces good for New York Real Estate

The New York Observer ran an arcticle yesterday about how reports thatĀ a slew of high profile divorces between these high net worth celebrities have been keeping the seven figure real estate market afloat during this awful economy. As part of their divorce settlements, these former spouses made out like bandits. But they are not stupid. They are not about to squander all their money on gigolos and exotic travel. They put the money into real estate.
To wit: “Laura Andrassy, the ex-wife of professional golfer Greg Norman, recently received a $100 million-plus divorce settlement. The divorce was finalized earlier this year and today the Wall Street Journal reported that Ms. Andrassy has gone into contract on a $7.55 million estate on Southampton’s Wyandanch Lane.”
Heather Mills McCartney, the former Sir Paul McCartney has also sailed upon New York’s shores and snapped up a swanky $5 million condo at 173 Perry Street by starchitect Richard Meier (she only got a $50 million dollar settlement).
And Bella Sapir, the ex-wife of billionaire Tamir Sapir, has closed on a $8,895,000 penthouse at the new Veneto luxury building on East 53rd Street. The 4,511-square-foot apartment has an outdoor space of 1,095 square feet and is Ms. Sapir’s second home; she also owns a place at the Park Imperial on West 56th Street – according to the Observer.