Two weeks after moving in, Ms. Hochberg messaged Ms. Berman-Schechter. Luxurious Beach House That Redefines Modernism Then, unexpectedly, a true fashion visionary walked down the runway and wiped that smirk right off your face. He will oversee Blackstone's operations, which span private equity, credit investing and hedge funds, reporting directly to CEO Schwarzman. Hamptons The tenants his clients were fighting do have money, they do have jobs, and they choose not to pay the rent, he said. 50 insiders reveal how the superinvestor consolidated power, elbowed out rivals, and is remaking the firm in his golden-boy image", "Investment strategy: The new property barons", "Blackstone to Check Out of Hilton Investment", "Blackstone's Hilton Deal: Best Leveraged Buyout Ever - Bloomberg", "40 under 40 - Jonathan Gray (7) - FORTUNE", "Blackstone Exits Single-Family Rental Bet Slammed by Warren", "Wall Street as Landlord: Blackstone Going Public with a $10 Billion Bet on Foreclosed Homes", "Warren Calls Out Blackstone for "Shameless" Profies From Housing", "Blackstone's Homegrown Dealmaker Finally Makes It to the Top", "Opinion | Wall Street Courts Hong Kong Strongman John Lee", "Three Top Bankers Pull Out of Hong Kong's Global Finance Summit", "Trump Said to Discuss Treasury Post With Blackstone's Gray", "Blackstone executive Jonathan Gray won't serve as Treasury secretary", "The Wallets of Wall Street Are With Joe Biden, if Not the Hearts", "Private-Equity Leaders Place Their Presidential Bets", "Joe Biden's fundraiser list includes more than 30 executives with Wall Street ties", "Joe Biden to host more than 250 donors from Wall Street, big business at NYC fundraisers here's the guest list", "Blackstone COO Jonathan Gray On Giving To Education, Cancer Research", "Blackstone President Jonathan Gray Donates $25 Million To Tackle Deadly Breast Cancer Gene", "Basser Center for BRCA Abramson Cancer Center", "Blackstone's Gray Becomes Billionaire Amid Property Wager", "The 2013 Basser Global Prize - Bassser Research Center for BRCA -Penn Medicine", "Penn Medicine's Basser Research Center for BRCA Announces Additional $5 Million Gift from Mindy and Jon Gray to Fund External Research Grant Program", "The T&C 50: The Top Philanthropists of 2016", "Blackstone's Gray Gives $21 Million to Hit Cancer Close to Home", "$55 million gift to Penn is aimed at stopping breast cancer before it starts", "University Of Pennsylvania Receives $55 Million Gift To Study, Treat Hereditary Cancers", "Blackstone's Gray Gives UPenn $55 Million for Cancer Prevention", "New York Seeks to Jump-Start College Savings by Giving Cash to Kindergartners' Parents", "Blackstone's Gray Donates $10 Million for Financial Aid at UPenn", "Money for Kindergartners, Spendable on College", "WEDDINGS - Mindy Basser, Jonathan D. Gray", https://en.wikipedia.org/w/index.php?title=Jonathan_D._Gray&oldid=1147945563, Wharton School of the University of Pennsylvania alumni, Articles with unsourced statements from April 2016, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 3 April 2023, at 05:15. Turn on desktop notifications for breaking stories about interest? Surf Lodge has nothing to do with it.. In 2017, she began working as the partnerships and wellness director at Surf Lodge, a nightclub founded in 2007 by the Brazilian-born entrepreneur Jayma Cardoso. Judith Goldiner, the attorney-in-charge of the Civil Law Reform Unit at the Legal Aid Society, said that the laws would help many people who were suffering in New York, pointing to a recent survey that indicated that 58 percent of Black renters, 57 percent of Hispanic or Latino renters and 37 percent of white renters in New York were unsure of their ability to pay their October rent. [29], In October 2022, the Grays announced a gift of $55 million[36] to establish the Basser Cancer Interception Institute as part of the Basser Center for BRCA. Most notably, she imported ornate concrete walls from Spain to enclose the garden, where she planted climbing roses, lavender, phlox (a low-growing flower), and delphinium (a pale blue flowering plant). When he died in 1948, his fortune had already dwindled, and the majority of his estate went to Big Edie's twin sisters while her (greatly reduced) inheritance was left in the control of her sons. The East Hampton home known as Grey Gardens is on the market for $19.995 million. He really began to garner major attention on Wall Street during the LBO boom of the mid-2000s when, as co-head of the unit, he oversaw the joint takeover of Trizec and the LBOs of Equity Office Properties and Hilton. After the Berman-Schechters lawyer filed a petition asking a court to compel Ms. Hochberg to leave the house, Ms. Hochbergs lawyer, Christopher McGuire, used the 2019 tenant protection act to argue for dismissal. Either you were wearing black leather to the Mudd Club or sparkles to Studio 54. We've received your submission. Off the main drag, deer roamed the streets, unperturbed by the occasional car. WebWe would like to show you a description here but the site wont allow us. Once published, Grey Gardens' celebrity fate was sealed. By the 1960s, the Beales had grown more reclusive and paranoid (though Little Edie left to attend JFK's inauguration), partially because Big Edie was developing arthritis, and partially because of a robbery while the two were out at a party. Last year, the firm sold Logicor for $14 billion in its biggest-ever real estate sale. But by 1913, she had sold it to the president of a coal company, Mr. Robert C. Hill. Take a look inside the singled cottage she bought, renovated, and furnished in the 1990s. Jonathan Gray built Blackstone's powerhouse $115 billion real estate business. Big Edie on her wedding day (left) and Little Edie posing in a white gown (right). The property, which features ocean views, also includes a stucco cottage, heated pool and tennis court, in addition to the main home. In the early 1920s Phelan and Edith purchased the Grey Gardens mansion located at the corner of Lily Pond Lane and West End Road in East Hampton, Long Island. [7], Gray led Blackstone's LBO of Hilton Hotels, which became the most profitable private equity real estate deal ever, earning $14 billion for the firm's investors. The home is the subject of countless legends and rumors, but even in its dilapidated state during the mid-20th century, one could argue that it thrivedand it is certainly thriving today. Some 20 years after Little Edie retired to East Hampton, their beloved grand piano was a warped, defunct fossil of its former self, and the entire main level was coated in cat hair, cobwebs, and dust. Understated Beach House That Artfully Breaks Convention in Each sale listing includes detailed descriptions, photos, amenities and neighborhood information for The Hamptons. Regardless of why Grey Gardens lost its gilded luster, life went on as usual for a few years after the film wrapped production. Billionaire completes Hamptons mansion after tearing Billionaire completes Hamptons mansion after tearing Jonathan D. Gray (born February 4, 1970) is an American billionaire businessman and the president and chief operating officer of Blackstone Group, a New York-based asset management firm. Understated Beach House That Artfully Breaks Convention in The story of the mother-and-daughter duo and their rambling home later inspired a 2006 Broadway musical and an HBO movie starring Drew Barrymore and Jessica Lange, who won an Emmy in 2009 for her role. Jonathan Adler and Simon Doonans House on Shelter Island. In 1971, the town of East Hampton ordered a raid on Grey Gardens, which many considered uninhabitable, and argued that it was a safety hazard. (And, either way, you thought you looked pretty damn fabulous.). It would be a lot easier and cheaper to rebuild,'" Quinn recalls. Designer Jonathan Adler and his husband, Simon Doonan, outfitted their New York house with warm and idiosyncratic interiors. She left in 2011.) It was cold and rainy in Montauk that day. Whenever I arrived, I felt like I had really escaped to a place where I could be myself. In an interview about weight loss with Yahoo.com five years ago, she said, Montauk was, in some strange way, like my support system.. When private equity giant Blackstone Groupwent public in 2007, fewerthan a quarter of its $79 billion in assets under management were tied to real estate. While Gray sees challenges in parts of the retail real estate market, he continues to be bullish on residential real estate because new supply is not keeping up with demand across the U.S. It is her life, her matter. The Hills spent ten happy years there, lovingly maintaining the property before selling it in 1923 to the owners who would ultimately make the house famous, Big and Little Edie Beale. In 1979, writer Sally Quinn and her husband Ben Bradlee, of Washington Post fame came to see the ruin, even though the real estate agent refused to go inside with them. In the intervening decades, Grey Gardens has been relentlessly mined as a source of inspiration. Blackstone Group Inc. President Jonathan Gray says now is a good time to invest in real estate and there are plenty of reasons why. With Blackstone's shuffle, there's been change atop most major financial institutions. Lange worked with designer Jonathan Adler (who also happens to be her best friend from college) on the redesign, so you can see his cheeky spin on WASP chintz-y style vis-a-vis turquoise shutter paint, blue leopard print wallpaper, and a rattan settee with Kelly Green cushions, to name a few. Blackstone Group Inc. President Jonathan Gray says now is a good time to invest in real estate and there are plenty of reasons why. A spokeswoman at his real estate firm, Nest Seekers, declined to comment. Big Edie had a lover named Gould Strong during the '40s, who was a musician and likely lived (at least part-time) at the mansion, but they parted ways by the early 1950s. Architectural Digest may earn a portion of sales from products that are purchased through our site as part of our Affiliate Partnerships with retailers. Links: www.bloomberg.com 12,388 views Unrated Categories Buildings > Residential Comments Policies Please log in if you don't want to post anonymously (anonymous users cannot Gray recently donated $10million to purchase a building in northern Manhattan which will serve as the organization's second elementary school. [35] In July 2019, it was announced that the Grays would donate a further $25million for research on pernicious genetic mutations that can lead to breast and ovarian cancer. Now Blackstone, the industry's biggest player, is also laying out its succession plans. No, Im not talking about Bianca Jagger or Pat Cleveland. Shes a good person at work, shes extremely dedicated, Ms. Cardoso said of Ms. Hochberg. Hamptons Montauk mornings in my new summer garden, the caption read, along with several hashtags including #goodmorning and #myownhome. Jonathan Gray This beach house that architect Jonathan Marvel designed for clients along a lesser-known stretch of Great Peconic Bay is the essence of modernism, boasting sleek lines, a copper roof, and idiosyncratic fenestration. The couple then spent around $600,000 to restore the 1897-built home, the newspaper reports. We may earn commission from links on this page, but we only recommend products we back. In June, Air Mail reported that a Hamptons realtor, Jonathan Davis, had trashed a property hed leased, and had refused to leave. Iconic Grey Gardens Hamptons home hits market As a subscriber, you have 10 gift articles to give each month. Spending youthful summers at my family home in Montauk is where I felt most serene, Ms. Hochberg wrote in an essay for The Purist, a website founded by Cristina Cuomo where Ms. Hochberg works as an executive sales director, according to her LinkedIn profile. The great mansion's walls offer far more than just beauty, whispering stories with valuable wisdom about weathering life's inevitable ebbs and flows. In the film, the Beales live in squalid, bickering isolation in a once-glam house they called Grey Gardens. I have my own place in Montauk.), On Sept. 1, according to a court filing, Ms. Hochberg hadnt paid what she owed, and hadnt left the house. After the crisis, Gray's unit oversaw the creation of Invitation Homes, the nation's largest single family home rental firm, which now carries a market cap exceeding $11 billion. And when I say squalid, I mean raccoons-eating-the-bannisters, hoarders-level squalid. But, after a bad fall in 1977, Big Edie suffered a badly broken leg, which went untreated. Edith Ewing Bouvier Beale (Big Edie) was born in 1895 to an ultra-wealthy judge. I can send her an email at 11 at night and she responds.. In January 2014, the Basser Research Center announced an additional $5million gift from the couple to fund an external research grant program. Beale and her mother, Big Edie Bouvier Beale, famously lived together in the home on West End Road. [8] Gray continues to act as Chairman of the Board of Hilton Worldwide, which went public in December 2013. Otherbig recent deals include the $18 billion acquisition of GE's real estate assets and the purchase of Stuyvesant Town / Peter Cooper Village, an 80 acre property with 11,200 units in Manhattan. The house had a very unusual appeal to meI cant really describe it, it just grabbed me, says homeowner Jonathan Sheffer of his beach-adjacent Sagaponack, New York, home, originally constructed in the 1880s. Jonathan Gray started at asset manager Blackstone Group fresh out of college in 1992 and later rose to head the firm's vaunted real estate group.

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