Krugman buys co-op with Nobel Prize money

New York Times columnist and Nobel Prize winner Paul Krugman and his
wife Robin Wells purchased a three-bedroom Riverside Drive co-op
earlier this month, the New York Observer reported. The seller was a former New York Times reporter,
Joseph Treaster. Krugman and his wife spent $1.7
million on the apartment, which was listed early last year for nearly
$2.5 million and saw two price cuts before selling. Krugman said he
does expect the New York market to fall further, but that he didn’t
mind buying now because he had recently gotten about $1.4 million with
his Nobel prize. Krugman told the Observer that the home includes what
he called “the ultimate New York luxury, which is a washer and dryer.”