As the real estate market surged to highs in the mid-2010s, German investor Ekkehart Hassels-Weiler quietly plowed $131 million into four downtown New York penthouses, including the top perch at Herzog & de Meuron-designed skyscraper 56 Leonard. When he sold two of those units last year, he took a nearly 16% hit. His fortunes reflect...

Source: Wall Street Journal January 15, 2020 21:33 UTC