Obama To Spark Epidemic of Penthouse Sales?
You wouldn't know it from the packed, $28,500-a-head fundraiser he held on Park Avenue last night, but Obama panic is setting in among the city's ultra-rich. With at least one member of the moneyed class, that is. From the Observer comes the report that Leonard Toboroff, chairman of Houston-based energy company Allis-Chalmers Energy, is putting his 3,973-square-foot, 11-room North Moore Street penthouse (which he bought from Tom Freston) on the market for $17.9 million. Why? He's worried that a victorious Obama will raise capital gains taxes. [Observer]