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	<title>Observer &#187; When Is $7.8 M. Not A Lot? When It’s A Condo at The Plaza</title>
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		<title>Observer &#187; When Is $7.8 M. Not A Lot? When It’s A Condo at The Plaza</title>
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		<title>When Is $7.8 M. Not A Lot? When It’s A Condo at The Plaza</title>

		<comments>http://observer.com/2007/11/when-is-78-m-not-a-lot-when-its-a-condo-at-the-plaza/#comments</comments>
		<pubDate>Tue, 20 Nov 2007 23:30:42 -0400</pubDate>
					<link>http://observer.com/2007/11/when-is-78-m-not-a-lot-when-its-a-condo-at-the-plaza/</link>
			<dc:creator>Max Abelson</dc:creator>
				
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		<description><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/transfers-plaza1v.jpg?w=225&h=300" />Is it possible that <strong><span style="font-family: 'Exchange Text Bold'">$7,820,581</span></strong> (and five cents) no longer counts as an expensive apartment in New York?
<p class="text">Viacom’s chief financial and administrative officer, <strong><span style="font-family: 'Exchange Text Bold'">Tom Dooley</span></strong>, closed late last month for that amount on a ninth-floor condo at <strong><span style="font-family: 'Exchange Text Bold'">The Plaza</span></strong>. Yet the deal, the 77th to close since the 100-year-old hotel was redesigned, doesn’t even rate as one of the 25 most expensive recent deals at the building, city records show. </p>
<p class="text">Twenty-first-century Manhattan really is a decadent place. But northeast of the hotel, things only get worse: Take the deed for a 12-room duplex at 730 Park Avenue, filed in city records the day before the Dooley deal; a finance guy named Dan Benton and his wife paid full asking price, $21.5 million, to finance guy Michael Scharf and his wife. (The apartment has a maid’s room, but there’s an additional staff room on the co-op building’s first floor.)</p>
<p class="text">As for Mr. Dooley and his wife, Barbara, they signed their Plaza contract in October 2006, back when things were particularly bright for the family. A month earlier, Viacom’s aged chairman, Sumner Redstone, dismissed heir apparent Tom Freston and made Mr. Dooley a senior executive vice president. Better yet, his old pal Philippe Dauman became CEO: The two had left Viacom together six years earlier.</p>
<p class="text">According to city records, the Dooley couple didn’t take out a mortgage, which suggests they paid in cash. A call and an e-mail to the executive were not returned.<span>  </span></p>
<p class="text">But three other Plaza sales filed with the city this month alone trump the Dooley deal. Biggest of all, the Esprit clothing executive Jürgen Friedrich paid $25 million for Unit 509, reportedly a gold-and-pink spread called the Astor Suite. Ivana Trump designed the place in 1989.</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
]]></description>
		<content:encoded><![CDATA[<p><img class="alignleft" src="http://nyoobserver.files.wordpress.com/2011/06/transfers-plaza1v.jpg?w=225&h=300" />Is it possible that <strong><span style="font-family: 'Exchange Text Bold'">$7,820,581</span></strong> (and five cents) no longer counts as an expensive apartment in New York?
<p class="text">Viacom’s chief financial and administrative officer, <strong><span style="font-family: 'Exchange Text Bold'">Tom Dooley</span></strong>, closed late last month for that amount on a ninth-floor condo at <strong><span style="font-family: 'Exchange Text Bold'">The Plaza</span></strong>. Yet the deal, the 77th to close since the 100-year-old hotel was redesigned, doesn’t even rate as one of the 25 most expensive recent deals at the building, city records show. </p>
<p class="text">Twenty-first-century Manhattan really is a decadent place. But northeast of the hotel, things only get worse: Take the deed for a 12-room duplex at 730 Park Avenue, filed in city records the day before the Dooley deal; a finance guy named Dan Benton and his wife paid full asking price, $21.5 million, to finance guy Michael Scharf and his wife. (The apartment has a maid’s room, but there’s an additional staff room on the co-op building’s first floor.)</p>
<p class="text">As for Mr. Dooley and his wife, Barbara, they signed their Plaza contract in October 2006, back when things were particularly bright for the family. A month earlier, Viacom’s aged chairman, Sumner Redstone, dismissed heir apparent Tom Freston and made Mr. Dooley a senior executive vice president. Better yet, his old pal Philippe Dauman became CEO: The two had left Viacom together six years earlier.</p>
<p class="text">According to city records, the Dooley couple didn’t take out a mortgage, which suggests they paid in cash. A call and an e-mail to the executive were not returned.<span>  </span></p>
<p class="text">But three other Plaza sales filed with the city this month alone trump the Dooley deal. Biggest of all, the Esprit clothing executive Jürgen Friedrich paid $25 million for Unit 509, reportedly a gold-and-pink spread called the Astor Suite. Ivana Trump designed the place in 1989.</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
<p class="text">&nbsp;</p>
]]></content:encoded>
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