Poker pro Dan Shak proved to be recession-proof after selling his lofty New York City condo for $7.4 million. Shak, who bought the home back in 2005 with his ex-wife Beth Shak, originally paid $7.2 million for the property. However, he was somehow able to swing a $200,000 profit while selling it seven years later. Perhaps he did some major upgrades?
The popular reason for Shak selling the condo is that he lost around $7 million in the gold market, and needed a way to make some quick cash. In fact, Shak’s losses caused him to sell off a remaining stake in $850 million worth of future gold contracts, which caused a market scare. This coupled with the aforementioned condo sale had many thinking that he was desperate for money. However, Shak has consistently denied selling his condo to cover gold market losses.
In any case, what is known is that Shak gave his ex-wife $3.25 million when they got divorced in 2008 so that he could keep the property. And one certainly can’t blame Shak for wanting to keep his condo when they look at the pictures. There’s plenty of exquisite decor and excellent terrace views of New York.
As for Shak’s poker career, he’s made over $2.7 million in live tournament cashes, and this includes a victory in the 2010 Aussie Millions Main Event ($1,107,553). In addition to this, he also finished second in the 2011 NAPT Uncasville, which was good for $254,000. In regards to his ex-wife Beth Shak, she hasn’t fared quite so well in the poker world lately, having made only $29,955 in the last two years. Her crowning poker achievement came when she finished second in a 2007 WSOP $3,000 Hold’em event ($328,683); this helped her land a gig as a Full Tilt Poker team member.