Foreign Property News | Posted by Hnin Ei Khin
The Sultan of Brunei is in talks to buy New York City’s storied Pierre Hotel — where Commerce Secretary Howard Lutnick owns a stunning triplex penthouse apartment, the Post has learned.
Hassanal Bolkiah, who is both sultan and prime minister of the tiny kingdom in Southeast Asia, is partnering with Essam Khashoggi, brother of the late Saudi arms dealer Adnan Khashoggi, according to a source close to the situation.
Khashoggi is the uncle of the late Washington Post journalist Jamal Khashoggi, who was slaughtered inside the Saudi consulate in Turkey in 2018.
(The Sultan of Brunei is in talks to buy New York City’s storied Pierre Hotel — where Commerce Secretary Howard Lutnick owns a stunning triplex penthouse apartment, the Post has learned. Annie Wermiel/NY Post)
The landmarked hotel at 795 Fifth Ave. overlooking Central Park – which was put on the market last year – has been a favorite of A-listers and titans of industry since it opened its lavish doors in 1930.
The sale of the hotel’s 189 rooms, retail space and restaurants is complicated and far from a done deal, a source close to the situation told The Post.
The sultan is a “strong contender, but there are others,” the source said.
The 41-story limestone-clad building – featuring neo-Georgian architecture modeled after Versailles – also has about 80 co-ops.
The sale could be for the whole property, which is valued at around $2 billion, the source said.
The deal could involve some of the co-ops, or all of them. “At this point, no one is sure how it will play out, but it is heading into one of those directions,” the source said.
The Post reached out to the Brunei prime minister’s office, its UN Mission in New York and its embassy in DC for comment.
(The landmarked hotel at 795 Fifth Ave. overlooking Central Park – which was put on the market last year – has been a favorite of A-listers and titans of industry since it opened its lavish doors in 1930. Angel Chevrestt)
The shareholders own the property and have leased the Pierre to India-based Taj Hotels Resorts and Palaces since 2005.
While Lutnick is a shareholder, he is not a member of the board, sources told The Post.
Lutnick and his wife, Allison, bought the Pierre penthouse triplex, the building’s crown jewel, in 2017 for $44 million — which was $81 million off its original asking price. The 12,000 square-foot skypad first hit the market in 2013 for $125 million.
The couple has never lived in the building, according to sources.
(The sale could be for the whole property, which is valued at around $2 billion, the source said.)
(Hassanal Bolkiah, who is both sultan and prime minister of the tiny kingdom in Southeast Asia, is partnering with Essam Khashoggi, brother of the late Saudi arms dealer Adnan Khashoggi.via REUTERS)
(Lutnick and his wife, Allison, bought the Pierre penthouse triplex, the building’s crown jewel, in 2017 for $44 million — which was $81 million off its original asking price.REUTERS)
(The shareholders own the property and have leased the Pierre to India-based Taj Hotels Resorts and Palaces since 2005.Christopher Sadowski)
Ref: Sultan of Brunei in talks to buy NYC’s iconic Pierre Hotel: sources
Photo Credit- Annie Wermiel/NY Post, Angel Chevrestt, REUTERS, Christopher Sadowski
