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Banker-Producer Hopes for Big Profit on Porter House Condo

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Banker Julian Iragorri finds personal fulfillment far outside the confines of his job?by investing in films so that he can tag along to film festivals, host screenings at which he can introduce Matthew Broderick, and carry sandbags around film sets. Perhaps a pricey new film is inspiring Iragorri's attempts to make increasingly more money off the resale of his apartment at Porter House. He paid $2,462,500 for the 3BR condo in 2005. He started trying to unload it in 2007, for $4.495 million?and each time he pulled it off and returned it to market, the price went higher. As of this week, it's at $5.1 million, or $2,501/square foot, compared to the building's recorded sale average of $1,419/square foot. Will condos prove to be a better investment than movies?

· Listing: 66 Ninth Avenue, Unit 5E [Elliman]
· 66 Ninth Avenue #5E [StreetEasy]
· Porter House coverage [Curbed]

The Porter House

66 Ninth Avenue, New York, NY