$36,000,000 YACHT PULLS INTO NEW YORK HARBOR

FOR IMMEDIATE RELEASE

Media Contact:
Jessica Aufiero
212-848-0483
Jessica.aufiero@corcoran.com

$36,000,000 YACHT PULLS INTO NEW YORK HARBOR

NEW YORK, NY – MAY 18, 2005 – Israeli businessman Jonathan Leitersdorf celebrated the arrival of his famous 177 foot luxury sailboat, TIARA, into New York harbor by hosting a swank cocktail party aboard the luxurious yacht at Pier 86.  The high-speed cruiser, designed by Dubois Naval Architects, arrived in New York last weekend to participate in the Rolex Transatlantic Challenge.

Guests, including Julia Stiles, Josh Lucas, and Matthew and Stacey Bronfman, mingled barefoot on the pristine deck of the year-old boat while enjoying sushi from Bond Street.

According to Leitersdorf, the yacht, priced at $36 million, took three-and-a-half years to design and build and is said to be the largest sailboat to pass through the Panama Canal.  “I wanted a boat that I could travel around the world with, that I could live on and not feel claustrophobic," Leitersdorf said.

The interiors, by John Munford, feature square rooms and antique furniture, rather than built-ins. Leitersdorf wanted to create the feeling of a classic gentleman's club, with rich wood paneling and leather upholstery.

TIARA was built to travel the world, with a fireplace for Alaskan cruises, and an elegant tent for sleeping outdoors in the Caribbean. Under power, it can travel at 12 knots per hour and has space for a helicopter to land on its deck. It was built in New Zealand by Alloy Yachts International.

The boat is listed with Wendy Maitland of The Corcoran Group, who is also the listing broker for Leitersdorf's $20,000,000 triplex apartment, at the top of a 19th-century building in Greenwich Village. The 11,000-square-foot apartment features lavish details such as imported tin ceilings, a heated outdoor swimming pool and antique carved doors. The opulent spread has been featured in an episode of Sex and the City and has played host to Jerry Seinfeld's wedding and Chelsea Clinton’s birthday party.

Leitersdorf, who founded New York-based L Capital Partners, is pursuing other projects, including a boutique hotel in Switzerland and penthouse lofts in Tel Aviv.

The boat is available for showings all week, but since it is not registered in the U.S., negotiations cannot take place until it reaches international waters, Maitland says.

For those who can splurge, the loft and yacht are available "as a set," at a lower combined price.

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