Why Peter Kraus' Apartment May Look Familiar to Some of You

It Once Belonged to Carl Spielvogel

By Published on .

Sites like Gawker have been having a heyday over Peter Kraus -- who was very briefly a bigwig at Merrill Lynch before cashing out to the tune of some $25 million -- buying a cushy five-bedroom apartment for a cool $37 million.

What hasn't been made much of in the coverage is that the mahogany-paneled, marble-floored, crown-molded and wood-burning-fireplace-graced seventh floor residence until recently belonged to Carl Spielvogel. Yes, that Carl Spielvogel, former chairman of Backer Spielvogel Bates and later vice chairman of Interpublic. In the interim, he was chairman CEO of United Auto Group and U.S. ambassador to the Slovak Republic.

The New York Post identifies Spielvogel only as a Democratic fundraiser and says he and his wife, Barbaralee Diamonstein-Spielvogel, paid less than $20 million for the place two years ago. According to the real-estate listing, as cited by the Post, the apartment has "crown molding, plaster relief encircling the chandelier and rich Venetian plaster walls."

All in all, not a bad pad for a former New York Times reporter and columnist -- considering that a lot of journalists are on the dole these days.

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