I viewed the penthouse of The Pierre as potential purchaser representing an unnamed Asian tycoon and at the time it was on the market for $70 million USD.   The former ballroom of The Pierre is a triplex coop comprising 16 rooms, 4 terraces and a 2,800-square-foot grand salon, the former ballroom of the Pierre Roof.   Grand!   No other word to describe.  And stunning, refined and a world of service.  >>  MORE

• Argentine billionaire sold Pierre unit
• Gucci Apt - For Rent - $60K Per Month
• Asians Play Monopoly in NYC
• Aerial

Trends of the Super Rich:

• At the highest end of the global residential real estate market, trophy properties, like expensive art, rarely bought under duress.
• Privacy matters, especially separate entrances in buildings with hotels. Foreign billionaires expect concierge services night and day, and a long slate of amenities like gyms, spas and children’s playrooms

Golden Mile of Retail Real Estate

• Fifth Avenue Retail rents hitting $3,000 per square foot
• Sales at Columbus Circle Mall in New York exceed $1,600 per sq ft
• Fifth Avenue Retail
• Uniqlo Deal at 666 Fifth Avenue    
  • Towering Escalator    
  • Building owned by Trump in-law
• UK retailer Ted Baker to locate at 595 Fifth Avenue
• Wempe leaves location at the Peninsula on Fifth - $2,300 per sq ft 

Global investors compete with institutional investors

• Dubai Group retreats from U.S. real estate
• Seven of 10 largest Manhatten Office deals are Recaps
• Cheng Yu-Tung bought Carlyle in Manhattan

• Downtown
• Midtown

Dealmaking

• Portfolio Financing
• 90,000 hotel rooms in NYC
• Shenzhen New World purchase of Downtown LA Marriott