Joe Gregory, the former President of Lehman Brothers and long-time confidant to former CEO Dick Fuld, apparently had more difficult financial times since he was forced to resign from the failed investment bank in June 2008. As noted in this previous TCM post Possible Bankruptcy for Joe Gregory of Lehman Brothers, "one might surmise that Joe Gregory was as good at managing his own personal finances as he was at managing the leveraged risks of Lehman Brothers."

From the November 13th 2009 edition of The Wall Street Journal comes news that Joe Gregory has had some success in liquidating at least some of his various property holdings. The 2.5-acre oceanfront estate in Bridgehampton, N.Y., remains on the market with an asking price of $27.9 million. However, at least the property in Vermont is now sold. One wonders when and at what price the Bridgehampton house will eventually be sold.

Former Lehman Brothers Holdings Inc. president Joseph M. Gregory has gone into contract on his seven-acre Manchester, Vt., estate, which he listed for $2.48 million.

Mr. Gregory has also sold his guest house, across the street from the main house. After more than 30 years at Lehman, Mr. Gregory resigned from his post in June 2008; Lehman filed for bankruptcy-court protection from creditors in mid-September.

Mr. Gregory bought the seven-acre Vermont property for $675,000 in 1993, according to public records. A six-bedroom farm-style house sits on the property, which also has a barn with a three-bedroom guest apartment above. The guest house went for $715,000, 10% less than his asking price. He bought that two-acre property for $180,000 in 2000. Sunny Breen of Main Street Realty represented Mr. Gregory in both deals.