Buyer Misses $100 Million Deadline in Bid for The Pierre

Motasem Khashoggi missed a deadline to buy The Pierre, a landmark in Manhattan.

He was required to deliver a $100 million deposit by Tuesday.

Khashoggi comes from a prominent Saudi family.

The purchase effort was described as a battle over the Manhattan hotel.

Khashoggi had been pushed by Lutnick, though no further details about Lutnick's role are given.

Missing the deadline ended the buyer's bid, and no next step is stated.