Developer Howard Milstein, his home at 888 Park Avenue and an anonymous mask worn by the protestors

Prominent real estate figures were among those targeted by Occupy Wall Street protestors in today’s “Millionaires March.”
Protesters marched up Park Avenue and demonstrated outside the homes of real estate developer Howard Milstein and John Angelo, CEO of Angelo, Gordon & Co., along with other CEOs and wealthy executives, including News Corp. founder Rupert Murdoch, JPMorgan Chase CEO Jamie Dimon and hedge-fund manager John Paulson. The protestors, who have been camped out in Zuccotti Park in the Financial District for the last few weeks, were joined by affordable housing groups and tenant advocacy organizations as they marched, yelling “we are the 99 percent,” and “hey there, millionaire, pay your fair share.” Some wore anonymous masks to hide their identity. Representatives from Community Voices Heard, a coalition of low-income New York City residents, were among the marchers.  [more]

Jamie Dimon, CEO of JPMorgan Chase

From the October issue: Wall Street is a place, but it’s also a state of mind. And that’s true now more than ever, as the headquarters of New York’s most powerful banks are no longer clustered on one particular Financial District thoroughfare.
Likewise, the homes belonging to the bosses of Wall Street’s biggest firms aren’t concentrated in any one place either. While there’s still some historic bias toward Uptown over Downtown, not every Wall Street titan gravitates toward the most exclusive white-glove co-ops. In addition, the success that these high-finance wizards have had with their NYC residential real estate investments is also all over the map.
What follows is The Real Deal’s rundown of who, where, and how they’ve done. First up is Jamie Dimon, CEO of JPMorgan Chase, whose address is 1185 Park Avenue. Click here for more. [more]

JPMorgan Chase is gradually reducing its mortgage portfolio to “close to zero” as it reviews mortgage losses and works through litigation over loan-servicing and foreclosure practices, Bloomberg News reported.
The bank has already reduced its mortgage holdings by $19.3 billion in the last 12 months and will continue to shed assets by as much as 15 percent a year “forever,” according to CEO Jamie Dimon.
“It’s going to go down 10 or 15 percent a year until it’s close to zero,” Dimon said.
JPMorgan’s earnings have taken a substantial hit as a result of continuing litigation over mortgage-related issues. It recently added $1.27 billion to its litigation reserves and took a $1 billion charge in the second quarter to clean up outstanding foreclosure-related matters. [more]

From left: Nouriel Roubini, Sheila Bair, Bernie Madoff, Jamie Dimon

Nouriel Roubini ranks first among “scientists and thinkers” on Time magazine’s list of the most influential people of 2009, but columnist Joel Stein begs to differ. “You predicted the housing bubble before it happened?” he wrote. “Well, that might make you the least influential person in the entire world. I predicted the Yankees need a set-up man. I guess I’m an influencer too.” Also of note on Time’s annual list: CEO Jamie Dimon of JPMorgan Chase, No. 13 among “builders and titans;” the FDIC’s Sheila Bair and Ponzi schemer Bernie Madoff, coming in at 14th and 20th, respectively, on the same list; and architects Elizabeth Diller and Ricardo Scofidio of Diller Scofidio + Renfro, 10th among “artists and entertainers.” [more]

From left: Mayor Michael Bloomberg, Related Companies CEO Stephen Ross, PR wiz Howard Rubenstein

When it comes to powerful New Yorkers, as far as New York Magazine is concerned, there’s Mayor Michael Bloomberg and then there’s “everyone else.” That “everyone else” includes heavyweights in real estate-related positions. In its list of the top 12 most powerful and influential city-dwellers, New York Magazine included Stephen Ross, chairman and CEO of Related Companies, calling him “the real estate industry’s last man standing,” along with PR giant Howard Rubenstein, who has counted developer Harry Macklowe and Rudin Management as clients. Others on the list include Al Sharpton, Jamie Dimon, chairman and CEO of JPMorgan Chase chairman, Senator Chuck Schumer, and one woman: Anna Wintour.