Michael Eisner Purchased Sherry Netherland Apartment
The former Disney executive acquired a luxury unit while a nearby landmark hotel faces a major potential sale.
Updated on Sept. 18, 2026 in Hotels
Live Poll
Is now a good time to prioritize personal property security over long-term speculative real estate investments?
Michael Eisner has purchased a $10 million apartment at the Sherry Netherland hotel in New York City. The transaction comes as shareholders consider a massive $2 billion sale of the nearby Pierre hotel.
Why it matters
The high-profile property movements highlight intense interest in New York City luxury real estate. Meanwhile, the potential sale of the Pierre could force out current residents and reshape the historic property.
Eisner paid $10 million for the 2,500-square-foot unit at 781 Fifth Ave. containing two bedrooms and 2.5 baths. The potential sale of the Pierre, which employs 400 people, faces a crucial shareholder threshold of two-thirds approval.
The players
Michael Eisner
He is a former executive at Disney who has become an active investor in luxury New York City properties.
Larry Ellison
He is a billionaire software entrepreneur and co-founder of Oracle who recently invested in the Pierre hotel.
Motasem Khashoggi
He is the lead bidder in the proposed $2 billion acquisition of the Pierre.
Dorchester Collection
It is a luxury hotel operator that is slated to take over management of the Pierre if the sale is finalized.
The details
Eisner completed the off-market acquisition of unit 25T from the Broad Revocable Trust. If the $2 billion sale of the Pierre to Motasem Khashoggi proceeds, the property would move under the management of the Dorchester Collection.
Timeline
In November 2025, Larry Ellison purchased two units at the Pierre.
On July 29, 2026, shareholders held a meeting regarding the potential sale of the Pierre.
On September 18, 2026, Michael Eisner closed on his new Sherry Netherland apartment.
A shareholder vote on the Pierre sale is expected to take place in the fall of 2026.
Travel Outlook
These transactions reflect a broader trend of high-net-worth investors securing stake in historic New York City properties. This activity follows a pattern of luxury cooperative and condominium consolidation that has recently defined the high-end Manhattan real estate market.
Potential buyers and current residents should monitor shareholder proceedings closely to understand how a management change at the Pierre may affect property rights. Investors should note that the $10 million valuation for the Sherry Netherland unit sets a benchmark for local luxury residential pricing.
The takeaway
The movement of luxury properties in these historic towers demonstrates the lasting appeal of Fifth Avenue addresses for high-net-worth investors. Prospective buyers should always review the specific governance and shareholder rules of cooperative boards before finalizing large-scale real estate acquisitions.
What happens next
Shareholders are expected to cast their votes on the $2 billion sale of the Pierre during a session scheduled for the fall of 2026.
Further reading
For more on the current landscape of the hospitality industry, explore our Hotels section.
Live Poll
Is now a good time to prioritize personal property security over long-term speculative real estate investments?
