He said he lives next door in a penthouse apartment overlooking Central Park South and pays ,000 a month in rent.
In his profile on Seeking Arrangement, Jack describes himself as a 67-year-old with a bachelor's degree. C., native says he founded four financial services companies.
Meanwhile, according to Jeffrey Jensen Arnett, a professor of psychology at Clark University, about 85 percent of the class of 2011 will likely move back in with their parents during some period of their post-college years, compared with 40 percent a decade ago.
For a sugar daddy willing to pay up, the site says it verifies his identity, annual income, and net worth and then ensures his profile gets the most traction by continually allowing it to pop up in the top tier of search results.
Educated, debt-ridden 20-somethings happen to be an age demographic that intersects nicely with Jack's preferences.
"Over the past few years, the number of college students using our site has exploded," says Brandon Wade, the 41-year-old founder of Seeking Arrangement.
Of the site's approximately 800,000 members, Wade estimates that 35 percent are students.