Mr. Chow Is Closing Up Shop at Its Iconic Tribeca Location—and the Space Is Up for Lease

Plus: The billionaire who ships his mattress ahead of him, the new rules of $5m real estate and the New York Post's lame Annabel's reporting....

For a certain set of New Yorkers (read: not young), Mr. Chow in Tribeca meant something. It was a go-to for post–New York Fashion Week dinners, for the gallery crowd spilling out of Tribeca and SoHo openings, for editors, stylists, and models settling into a late table. It will mark its twentieth anniversary next month, having opened in May 2006. The debut drew immediate attention: a new Mr. Chow downtown, arriving just as Tribeca was tipping from artist enclave into full-blown luxury zip code! Loft buildings were converting and hedge fund money was moving in. The neighborhood was becoming less scrappy and more expensive. Mr. Chow opened right into that shift.

Times have changed, and prices have climbed. Mr. Chow will no longer be serving its trademark chicken satay and lychee martinis from the corner of Hudson and North Moore soon. The space—Mr. Chow Tribeca—is now being marketed for annual lease, with materials circulating it as an “iconic prime corner.” The shift comes as Philippe Chow relocates from its longtime Upper East Side address to a new Fifth Avenue midtown location. RPS exclusively spoke with the broker handling the listing and got a look at the numbers they’re shopping it for.

Along with the details behind Mr. Chow’s exit from one of New York’s most in-demand neighborhoods right now (Tribeca can thank Love Story for that), today’s RPS also has the billionaire who ships his mattress ahead to hotels, the New York Post reporting that Annabel’s is coming to New York five weeks after RPS, the new rules of $5M real estate, Milan’s wealth grab, Bill Ackman’s latest spectacle, and more…