Today we are going to tour New York’s iconic Pierre Hotel, located in my favorite area of New York City. First, a little historical perspective. Because the backstories are always juicy. The 41 story hotel was built in 1929 where a mansion once resided on 61st/5th (the Gerry Home). This new $15-million hotel was a joint venture between Charles Pierre Casalasco of Corsica and a group of Wall Street investors, most notably Otto Kahn, E.F. Hutton and Walter P. Chrysler. It opened for business in 1930, with 700 rooms. The opening gala was attended by everyone prominent in business and society… and the guest chef in the early years was none other than Auguste Escoffier, the father of French cuisine. Wow.
Sadly, the Great Depression took its toll, bankruptcy was filed, then foreclosure, and the hotel was sold at public auction. In 1938, Standard Oil Tycoon John Paul Getty bought the hotel for a mere $2.5 million and owned the hotel until it became a cooperative. [Read more…]