Bloomberg News

JPMorgan Spokesman Evangelisti Sells Home for $6.7 Million

May 14, 2012

JPMorgan Chase & Co. (JPM:US)’s top spokesman, Joseph Evangelisti, sold his four-story townhouse in Manhattan’s West Village for $6.7 million, more than three years after first putting it on the market.

The sale of the 3,765-square-foot (350-square-meter) home at Grove and Bedford streets was completed on April 12, according to New York City property records filed May 3. The buyer was listed as East Hamptons Village LLC. Evangelisti bought the property in 2005 for $4.7 million, city records show.

Evangelisti listed the five-bedroom home for $7.9 million in November 2008, when the global economy slid into recession and the Manhattan sales market stalled after the bankruptcy of Lehman Brothers Holdings Inc., according to property website StreetEasy.com. He withdrew the listing in March 2009, then offered the home that November for $7.5 million. The asking price was whittled to $7 million in January, StreetEasy shows.

“Fantastic views from the roof where you can see the Empire State Building,” according to the listing by Robin Bowden, a broker at Prudential Douglas Elliman Real Estate. “There is a separate garden apartment that can be used for income, or great for a nanny.”

Evangelisti declined to comment on the sale. Bowden didn’t return a telephone message.

Luxury Sales

The median price of Manhattan luxury apartments, defined as the top 10 percent of all sales, climbed 4.4 percent in the first quarter to to $4.13 million, according to appraiser Miller Samuel Inc. and Prudential Douglas Elliman.

Evangelisti has worked for JPMorgan for more than 20 years. As head of the company’s global media relations division, he is also Chief Executive Officer Jamie Dimon’s spokesman.

JPMorgan suffered a $2 billion trading loss after an “egregious” failure in a unit managing risks, Dimon said on May 10. The firm’s chief investment office took flawed positions on synthetic credit securities that remain volatile and may cost an additional $1 billion this quarter or next, Dimon told analysts last week.

To contact the reporter on this story: Oshrat Carmiel in New York at ocarmiel1@bloomberg.net

To contact the editor responsible for this story: Kara Wetzel at kwetzel@bloomberg.net


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