World's Richest Man Buys Duke-Semans Mansion for $44 Million

It seems there was something a bit dodgy about the record $44 million sale of the famed Duke-Semans mansion (above) in New York City to Carlos Slim, the world's richest man, which we wrote about back in July. According to a lawsuit filed by the real estate brokers who had the listing on the palatial residence, former owner Tamir Sapir stiffed them out of nearly $1 million in commission by reneging on a prior agreement to sell the place to a different buyer for $37 million. Since Sapir, a cab driver-turned-fertilizer king, did the deal with Slim directly he ended up paying no brokerage fee, the New York Times reports, noting that the parties have just reached a settlement in the dispute for an undisclosed amount. Sapir bought the historic seven-story Beaux Arts mansion located across from the Metropolitan Museum of Art from relatives of Doris Duke for $40 million in 2006. When Slim took possession the 20,000-square-foot mansion, built in 1901, it had a doctor's office in the basement, a five-story main residence, a penthouse duplex on top, 12 bedrooms, 14 bathrooms, and 11 wood-burning fireplaces.-Jared Paul Stern,(www.luxist.com)

Alex Sapir: Forget Wall Street, these kids chose real estate

Ten years ago, New York City real estate was a business dominated by older, mature women selling apartments and even more mature men building them.

Now, it's not uncommon for twenty something real estate agents to rake in more than $1 million a year or 26-year-old developers to lead teams of hundreds building skyscrapers in New York's top neighborhoods. Kids straight out of college are choosing real estate over investment banking as a career.

"I remember when I was the young one," says Donald Trump, the world's best-known developer, who built the Grand Hyatt Hotel on top of Grand Central Station when he was just 30. "Young real estate professionals bring flair, style, hard work and enthusiasm to the industry. My kids just took to it. They really understand the international game."-DAILY NEWS STAFF WRITER

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JESSICA SIMPSON

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Black Wall Street

Greenwood was a district in Tulsa, Oklahoma. As one of the most successful and wealthiest African American communities in the United States during the early 20th Century, it was popularly known as America's "Black Wall Street" until the Tulsa Race Riot of 1921. The riot was one of the most devastating race riots in history and it destroyed the once thriving Greenwood community.

During the oil boom of the 1910s, the area of northeast Oklahoma around Tulsa flourished, including the Greenwood neighborhood, which came to be known as "the Negro Wall Street" (now commonly referred to as "the Black Wall Street")The area was home to several prominent black businessmen, many of them multimillionaires. Greenwood boasted a variety of thriving businesses that were very successful up until the Tulsa Race Riot. Not only did African Americans want to contribute to the success of their own shops, but also the racial segregation laws prevented them from shopping anywhere other than Greenwood. Following the riots, the area was rebuilt and thrived until the 1960s when desegregation allowed blacks to shop in areas that were restricted before.

The buildings on Greenwood Avenue housed the offices of almost all of Tulsa’s black lawyers, realtors, doctors, and other professionals. In Tulsa at the time of the riot, there were fifteen well-known African American physicians, one of whom was considered the “most able Negro surgeon in America” by one of the Mayo brothers. Greenwood published two newspapers, the Tulsa Star and the Oklahoma Sun, which covered not only Tulsa, but also state and national news and elections.

Greenwood was a very religiously active community. At the time of the riot there were more than a dozen African American churches and many Christian youth organizations and religious societies.

In northeastern Oklahoma, as elsewhere in America, the prosperity of minorities emerged amidst racial and political tension. The Ku Klux Klan made its first major appearance in Oklahoma shortly before the worst race riot in history. It is estimated that there were about 3,200 members of the Klan in Tulsa in 1921 .

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