Reborn in America, I am a legendary short seller on Wall Street.

Chapter 254 Signing the Contract and Getting Two Dakota Apartments (Updates will continue after midnight)
The atmosphere in the manager's office at the Dakota Apartments was solemn and quiet. Heavy oak doors shut out the outside noise.

John Jacob Astor IV arrived, gave a brief greeting to the apartment's managing director, and then left, leaving the follow-up matters to Larry, his bodyguard Mr. Dunbar, and the apartment's resident manager, Edgar Thornton.

The executive director first greeted Larry and his companion, saying a few words of welcome to the apartment, then apologized and left, entrusting the signing of the contract to Edgar Thornton.

Mr. Thornton was about fifty years old, dressed in an impeccable black tuxedo, his hair neatly combed, and his demeanor exuding a trained, unassuming elegance. He wore a formulaic smile, but his eyes were sharp, as if he could instantly assess the social class of any visitor.

Larry and Mr. Dunbar were seated on the sofa opposite each other.

"Gentlemen, Mr. Astor has given the instructions, and all the formalities have been completed. All that remains are some necessary paperwork to formally transfer the exclusive leasehold rights to your names." Mr. Thornton's voice was steady and clear as he took out two thick parchment documents and laid them on the mahogany desk.

Seeing Larry and Dunbar pick up the documents, Thornton continued to explain,

"Please allow me a moment to explain the meaning of 'exclusive leasehold' and how the Dakota Association operates," Thornton said solemnly, his fingertips touching, continuing in a dignified and pleasant tone.

“What you are buying is not the walls and floors themselves, but shares in the Dakota Condominium Association. This lease agreement you hold is your legal proof of exclusive ownership and use of the corresponding unit. It is essentially a perpetual and inheritable lease agreement, and as long as you hold shares, you have absolute right to use that unit.”

Larry looked up at the other person. This apartment rental project was different from any form of buying or renting a house that he knew. He listened attentively as the other person explained.

“The Dakota Condominium Association itself,” Thornton continued, a hint of barely perceptible pride in his voice.

"It is jointly owned by all shareholders—that is, all residents. The association is managed by a board of directors elected by the shareholders. The board of directors is responsible for setting rules, vetting the qualifications of new residents, and managing the use of the annual maintenance fees you just saw."

He paused meaningfully to make sure the other person understood the deeper meaning before continuing.

“This means that your neighbors are not just neighbors, they are your business partners. Through this unique approach, we ensure that every member of the Dakota community comes from… well… similar backgrounds and social classes, working together to maintain the value, tranquility, and security of this place. It’s a screening process, but more importantly, it’s a guarantee.”

Larry nodded, understanding the other hidden meanings behind his words.

This explanation is clear and cold, revealing the core of power beneath the glamorous exterior of the Dakota Apartments: it is not a place where properties can be freely bought and sold, but a private club where properties are merely a symbol of membership.

Larry understood that without an introduction from a top-tier aristocratic family like Astor IV, even with his immense wealth, he wouldn't be easily allowed into this "private club," let alone Mr. Dunbar...

Moving into the apartment effectively means officially entering the circle of New York's top billionaires. From then on, you only need to say that you live in the Dakota Apartments, and you won't need to introduce your background or other issues such as assets.

As the saying goes, clothes make the man, and gold makes the Buddha. If you want to enter New York's top circle of wealthy people, the Dakota Apartments are your ticket.

Of course, the so-called "exclusive lease right" is also a perpetual lease right. As long as one does not withdraw from the shares, one can live here permanently.

After Mr. Thornton finished explaining to Larry, he handed him the pen. "Now, if you two have no objections, please sign the agreement here. Congratulations, from now on you are not only a resident, but also a shareholder of the Dakota Association."

He directed Larry and Dunbar to sign their names in the designated places on the document.

Larry glanced at Dunbar, who was still somewhat hesitant and seemed lost in a dream, smiled, and signed his name first—Larry Livingston.

Mr. Dunbar then stopped hesitating and resignedly signed his name – John J. Dunbar.

The ink pen nib scratched across the parchment, a sound that seemed to be a ritual for them to integrate into this top-tier, private circle in New York.

“Congratulations to you both. From this moment forward, you are officially shareholders of the Dakota Condominium Association and have permanent residency rights in Units A and B on the seventh floor.” Mr. Thornton put away the documents, his tone softening slightly as he moved on to the next step.

"Regarding the apartment's layout," Thornton continued, like a seasoned tour guide.

"The unit is currently completely empty. This is customary so that the new occupant can furnish it according to their personal taste. Mr. Astor specifically instructed that, if you two require, I can provide a list of reliable furniture suppliers and decorators who have served many gentlemen in the building, are well-versed in the style of this place, and... are tight-lipped."

Thornton emphasized the last few words, his gaze lingering briefly on Dunbar, as if he understood that the gentleman had higher requirements for "privacy".

“As for servants,” Mr. Thornton continued, “we recommend vetted full-time staff. We can arrange for you the best butlers, cooks, maids, and… personal valet.” He looked at Larry and said…

"Of course, sir. If you have someone with you, they need to register at the management office and go through a simple background check. This is for the safety of all residents, and we hope you understand."

Larry nodded slightly, indicating that he understood. The "personal servant" the other party was referring to was not a male secretary like Koster, but a personal bodyguard.

Dunbar nodded. He was very familiar with this process, but this time, he was the one being protected.

Finally, Mr. Thornton added, seemingly casually, in a tone as calm as if discussing the weather, but the content carried immense weight.
"In addition, this is your annual maintenance cost estimate. The cost covers central heating, gas, cleaning of common areas, salaries for doormen and elevator operators, as well as maintenance of the building exterior and public facilities. Of course, you do not need to pay this year's service fee, as this cost is already included in Mr. Astor's consideration."

He handed over two beautiful cards.

Larry and Dunbar took a look:
Larry's (Unit 7A) card had a number written on it: $800/year.

Dunbar's (7B unit) card says: $700/year.

In 1892, this amount of money would have been enough for an average family to live very comfortably for a whole year, but here it was merely a year's "property fee".

Mr. Thornton keenly caught the fleeting, subtle shift in their eyes. Maintaining his smile, he revealed the final answer in an almost elegantly cruel tone.

“Of course, this is just a tiny fraction of what you two paid for these shares. According to the association's records, the consideration for Unit 7A was $90,000, and for Unit 7B it was $78,000.” A brief silence fell over the office.

Larry finally learned the price of the "gift" he received for helping the Astor family—$90,000 and $78,000. The sheer amount of wealth represented by these two figures, and the extravagance of Astor IV's gesture of gratitude, became incredibly real at that moment.

This price was really not cheap, after all, it was a top luxury apartment at the time and even in the future. Larry remembered that he and Mr. Porter had previously bought two properties and five shops for only $32. Among them, Mr. Porter's four-story property, including the land, was only $11.

“Mr. Astor… that’s incredibly generous,” Larry finally said, his voice steady.

“Indeed,” Mr. Thornton said with a slight bow. “The Dakota Apartments are worthy of this generosity. Welcome home, gentlemen.”

Larry then thought of a more professional and important matter and asked, "Mr. Thornton, I'd like to know if our apartment is subject to New York property taxes?"

Thornton smiled and answered confidently, “No need! Because you are buying shares in Dakota Condominiums, which gives you a ‘leasehold right’ to occupy the corresponding unit. Under the current legal framework, property taxes are levied on the company itself. You don’t need to worry about municipal matters, including street cleaning, water pipes, and tax bills. All of this is handled by the association. What you are buying is the freedom to avoid dealing directly with the municipal authorities.”

As soon as he finished speaking, Larry understood. The Dakota Apartments' behavior wasn't about avoiding property taxes, but rather that their property taxes were already factored into the annual property management fees. This was also a tax avoidance technique used by the wealthy.

Because by operating as a company, wealthy individuals have greater leverage to negotiate with the municipal government regarding real estate valuations.

As Larry fell into deep thought, a brief silence fell over the room.

Larry thought for a moment, then broke the silence, his tone calm as he cut straight to the point.
“Mr. Thornton, thank you for your explanation. As you can see, we are faced with two huge, empty spaces. Could you recommend some reliable furniture suppliers and decorators? We need to make this place livable as soon as possible.”

Mr. Thornton gave a more genuine smile that said, "This is what I've been waiting for."

He has answered this question countless times.

“Of course, it would be my pleasure, sir,” he replied fluently, as if he had already prepared the answer.
"For furniture for your home, I highly recommend that you contact 'AH Davenport Company'. They are located on East 57th Street and are the showroom of the Boston Davenport Company in New York. They have served many of the residences of Mr. Astor and the Vanderbilt family, and are skilled in high-quality replicas and custom furniture in all styles, from Louis XIV to the Chippendel style, and they are absolutely committed to privacy."

Larry then recalled his own wildly imaginative ideas, such as safes and hidden armories...

Seeing Larry hesitate briefly, Thornton assumed he wasn't interested and continued his introduction.
"Alternatively, you can directly engage the 'Hutter Brothers' firm in New York. They are also Mr. Morgan's most frequent decorator, and they can provide a range of 'Hutter-style' luxury interior solutions, from furniture to curtains. Of course, you don't need to worry about privacy either."

He paused briefly, then added, “As for carpets, curtains, and interior decorations, W. & J. Sloan is the preferred choice for high society. They have a complete range of goods, from Brussels carpets to oriental rugs, from silk drapes to velvet cushions. Their chief designer has impeccable taste and can provide a complete solution tailored to your specific needs.”

Finally, he looked at Dunbar, his tone still respectful but slightly adjusted, “As for everyday silverware, china, linens, and… well… more practical large storage solutions, Tiffany & Co. and Golem & Co. offer top-of-the-line catalogs. Of course, all orders can be delivered directly here and received and carried to your home by our staff.”

Thornton's recommendation was impeccable, highlighting both the high-end nature of the Dakota Apartments and its close relationship with top New York suppliers.

More importantly, he repeatedly emphasized "privacy" and "reliability," as if he already knew the elements that these two mysterious wealthy clients valued most.

“Thank you very much, Mr. Thornton, this is very helpful. I will think about it briefly and give you an answer.” Larry nodded in thanks.

“At your service, sir. Welcome home.” Mr. Thornton bowed slightly.

“How about this, could you make an appointment with Davenport & Co. for me? I’d like to see their original designs! Aren’t they mainly serving the wealthy in New England? What a coincidence, we’re from Boston,” Larry said with a smile.

“No problem, sir. Would it be alright to book you for the weekend?” Thornton asked.

Larry thought for a moment and said, "The day after tomorrow... April 27th morning. I might have to go on a business trip this weekend. Let's resolve this as soon as possible."

"Yes, sir. I'll contact Davenport tomorrow and have them bring you a designer, an engineer... Do you need anything else?"

Larry thought for a moment, realizing he needed to design some separate spaces and safes, then lowered his voice and said to Mr. Thornton, "I have some special needs, such as a 'private reading room' or a 'private vault.' Can they provide those?"

Thornton instantly understood Larry's request. He remained silent for a few seconds, expressionless, and then lowered his voice as well.

"Davenport does not offer these 'private reading room' services. However, the association does have long-term partnerships with some... highly specialized independent contractors who excel at structural reinforcement, historical restoration, and... special customized needs. Of course, they do not publicly solicit bids, nor do they appear on weekdays, and their work is not recorded in any official construction logs..."

After saying that, Thornton gave Larry a meaningful look and continued, "Of course, their payment will be in cash, and a substantial silent deposit will be required."

Larry nodded. "Then you can make the appointment with them tomorrow afternoon, okay?"

“Okay!” Thornton nodded.

The signing ceremony officially ended, and Larry and Mr. Dunbar stood up.

Thornton stamped the documents with a clay seal, then handed a copy of both documents to Larry and Dunbar, leaving his office phone number.

Larry and Mr. Dunbar walked out of the Dakota Apartments. It was already getting dark outside. The two looked back at the apartment building, which resembled a castle, and saw the lights shining from inside the "castle" and the towering eaves on the top of the castle. They felt how weighty Astor IV's "gift" was.

Then, Larry and Mr. Dunbar exchanged a glance, speechless, but their eyes conveyed a thousand words.

They not only received two top-tier apartments, but also gained access to New York's elite network of lifestyle services, along with all the responsibilities and unspoken rules that come with it.

(End of this chapter)