For nearly a century, the Pierre has stood as a symbol of opulence overlooking Central Park. Inspired by the Palace of Versailles, it was home to some of the most wealthy and powerful people in one of the most gilded ZIP codes in America.
But by 2023, its stately carpets were fraying, the elevators were breaking down, and the front desk often stood empty. In the minds of its well-heeled residents, the Pierre was falling apart.
Then, a relative newcomer to this landmark on New York’s Upper East Side brought hope to his disgruntled neighbors with an idea for fixing up the place. Howard Lutnick, the owner of the Pierre’s penthouse and a billionaire who would soon become President Trump’s commerce secretary, urged the co-op’s board of directors to hire a new manager for the building.
As it happened, Mr. Lutnick at the time ran Newmark Group, a real estate firm, which the board soon retained for advice on how to revamp the property.
But two years after he emerged as a would-be savior, Mr. Lutnick is being blamed by some of his neighbors for instigating a takeover of their beloved building.
The post The Commerce Secretary, a Gilded Hotel and Claims of a Secret Plan appeared first on New York Times.
