Chelsea Piers is honored to be named this year's Most Outstanding Leisure Property in the 1998 FIABCI Prix d'Excellence. These annual awards are made by the International Real Estate Federation, better known by its French acronym, FIABCI. The federation represents 123 professional organizations, municipalities and academic bodies from 54 countries. The awards are made to real estate projects from anywhere in the world which show excellence in all the real estate disciplines, including finance, brokerage, architecture, construction, marketing and management.

Every year seven Best in Category awards are made. The categories are leisure, office/industrial, residential, retail, rural and suburban, specialized and public sector. An overall winner is then chosen from these seven categories. This year the overall winner will be announced at FIABCI's World Congress, to be held in Bali, Indonesia, May 30-June 5, 1998. Chelsea Piers, winner of Best in Category in the leisure section, now goes forward to the finals.

The Best in Category Award was made at a ceremony at Chelsea Piers on Wednesday, April 22, 1998 by incoming FIABCI World President, Tony Grant. Accepting the award were Chelsea Piers Chairman Roland W. Betts, President Tom A. Bernstein, and Executive Vice President David A. Tewksbury, the three principals of Chelsea Piers Management