WILL THE ERA OF the deliberately conspicuous trophy sale return? “Just sit tight and wait,” Mr. Hassoumi said.
“Every 25 years, cycles come and people say, ‘That’s it! It’s not happening again!’ said Leighton Candler, who worked on both of the record-setting deals at 1060 Fifth Avenue. “But of course it will.” Ms. Candler was raised in a 38-room mansion, but her family moved out when her father, an eccentric Coca-Cola Company heir, went bankrupt. “Everything comes around again and again.”
“The market readjusts,” Mr. Burger said. “The question is, will it take three years or will it take five years?”
“The euphoria has passed—for a very brief period of time. And when it comes back, we’ll put it back on,” Mr. Arader said about his Madison Avenue mansion. “I shouldn’t have said ‘clubbed to death’—they’ve been clubbed unconscious for a few years. And they’ll be back. And they’ll be bidding on properties for their trophy wives again.”
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