Questions persist about financing of Pierre Hotel sale

The contentious sale process of the Pierre Hotel appeared to take another twist this month when a $100 million deposit was promised by the chair of the co-op board, yet never materialized. “A wire transfer instruction has been issued to transmit the $100,000,000,” the chair wrote to shareholders on Sept. 4, Vanity Fair reported, after the voting window for the property’s $2 billion sale opened. The Brunei-owned Dorchester Collection and Saudi businessperson Motasem Khashoggi are trying to buy the historic property, which is partially operated by Taj Hotels. It’s not clear if a deposit is needed at this point, since […]

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