Josh Barbanel reports on a sale at Trump World Tower to Chinh Chu of the Blackstone Group:
According to several people briefed on the deal, Mr. Chu paid an extra $5 million to buy a 1,200-square-foot outdoor space on a part of the roof above his apartment.
I do understand that outdoor space is nice. But $5 million – $4,167 per square foot – for a middling-size chunk of roof? That’s almost double the $2,144 per square foot that he’s paying for his duplex penthouse. (To put all this in perspective, you can paper an area with $100 bills for less than $900 per square foot.)