don peebles joining us now. i want to publicly apologize. mean to do that, i posed the question is it a sweetheart deal? i'm sorry if i said that. i don't mean to offend. tell me why i'm so totally wrong. >> the one year competition, the public private rfp process where there were numerous bidders, dozens and dozens and bidders, so they negotiated with all the bidders for about almost a year from april of last year to february of -- to march of this year really when we signed. stuart: okay. >> a lengthy process. stuart: you're paying 160 million dollars for this property in new york city. what's the significance? your first big deal in new york city and you are a big guy in the real estate business. what's the significant thing? >> landmark building, original headquarters for new york life insurance company, iconic historic building that we're fully restoring. stuart: beautiful building. >> thank you. we are also donating 15,000 square feet of space for community arts, making available 15,000 -- stuart: are you going to turn it into condomin

. >> and we will talk to one of the names in real estate who is don peebles who is waiting over thereand what is really going on with carnival cruise lines. two big problems in two days. we will begin. n a for a final g. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. ♪ ♪ [ female announcer ] you're the boss of your life. in charge of long weekends and longer retirements. ♪ ask your financial professional how lincoln financial can help you take charge of your future. ♪ >>> real investment chief investment officer rogers said that he loved commercial real estate and he said that we are in the early to mid innings of a blood global real estate recovery. joining us from the people's corporation, a man who knows a thing or two about real estate, don peebles. do you agree with john rogers that this is the beginning of the commercial real estate bo