Following the success of Park Kensington, Peter used the money that he made to pursue a lifelong dream of his: building a car. Kalikow’s passion for cars developed at a young age after seeing his first Ferrari at an auto show. From the moment he saw that Ferrari, Kalikow says he fell in love, giving rise to a profound admiration for cars that would inspire the creation of the Momo Mirage.

Approaching his 30s, he believed that he could build a car unlike anything else on the market: one with the reliability of an American car and the sophistication and elegance of a European car. In early 1968, Peter sparked up a conversation with friend and iconic Italian-American automotive engineer Alfred Momo about the ideal Gran Turismo. The pair had many of the same thoughts on this. Kalikow purchased the Momo Corporation so that together they could realize their dream of creating the ultimate GT car.

Alfred Momo

Alfred Momo left an indelible mark on the world of cars and racing through his exceptional contributions. Born in 1895 in Turin, Italy, Momo’s affinity for automobiles was cultivated at a young age, as he resided near the Fiat factory and frequently visited it, which eventually led to a remarkable opportunity.

At the age of 16, Momo was unexpectedly invited to join the Fiat factory team at the Targa Florio, a challenging 92.3-mile automobile race in Italy. Initially intended as a helper, after the riding engineer became ill, Momo was propelled into the role, riding alongside driver Ernesto Ceirano. Showcasing his innate skills, Momo helped Ceirano to emerge victorious.

This triumph launched Momo’s career, and in 1912, Fiat extended a full-time role to him in their testing department, a demanding task since Momo, still a student, concurrently managed his academic work. As Italy teetered on the edge of war in 1915, Momo contributed to Fiat’s aviation testing unit and was later dispatched as a mechanic in the Italian Air Force during the war. Upon his return at the age of 22, Momo continued his tenure with Fiat’s aviation department.

In 1920, Momo achieved further acclaim by participating in a daring flight from Rome to Tokyo on a Fiat plane, improvising mid-flight to mend a broken oil line. His successful intervention made headlines and garnered widespread recognition. The same year, Momo ventured to the United States as a field engineer for Fiat, spending two years there before briefly returning to Italy. In 1924, he permanently resettled in the US due to his country’s political circumstances.

Momo’s journey took a new direction as he became an engineer with the American Rolls-Royce Brewster Organization, a role he occupied until the company ceased car production in the United States. With World War II’s advent, Momo transitioned to his lifelong passion for mechanical engineering, establishing a machine shop that undertook substantial war contracts exceeding $1 million in value.

Following the war’s conclusion, Momo evolved his one-man repair shop into the expansive Momo Corporation, employing over 100 individuals and specializing in Jaguar sales and repairs. A pivotal alliance with race car driver and innovator Briggs Cunningham emerged in 1945, after Cunningham came to Momo to repair his cars. Cunningham aided in the funding of the Momo Corporation’s growth, and in return, Momo worked as a team manager and engineer for Cunningham. Momo’s success here solidified his stature in the automotive realm.

This remarkable trajectory led to Alfred Momo’s partnership with Peter Kalikow, as the two visionaries united to realize their automotive aspirations. Momo’s legacy as an automotive legend remains an enduring testament to his unparalleled expertise and contributions to the world of cars and racing.

While Momo used his countless connections in the automotive industry to secure the right dealers, engineers, and designers, Kalikow funded the project and led the vision as the president of the Momo Corporation.

Although the plan was to have the technical car parts mass-produced in America, Momo and Kalikow agreed that the chassis and body of the car had to be built in Italy. In early 1969, the duo traveled to Italy to analyze the supply market, constructors, and engineering and design talent. In 1970, the Momo Corporation opened its headquarters in Modena, Italy. Giulio Alfieri, head of engineering at Maserati at the time, was contracted to build the chassis of the car before being replaced by Vittorio Stanguellini, a race car designer in Italy.

Gene Garfinkle, a former General Motors designer who was working at Raymond Loewy’s Studio in New York, was recommended to Kalikow by Dick Fritz, a former Ferrari team manager, to design the Mirage. Garfinkle presented two proposals for the car before Kalikow and Momo went to Pietro Frua, a famous coachbuilder and car designer, whom they had previously contracted for design sketches, to help finalize the blueprint and manufacture the physical body of the Mirage.

After almost two years of assembly, the first prototype of the Momo Mirage was finished in September 1971. It was shown around Italy and used for road testing before being shipped over to the United States, the intended market for the Mirage. In December of 1971, the Momo Mirage graced the cover of Road & Track magazine. By early 1972, the second prototype of the Mirage had been completed, and the car officially debuted at the 1972 New York International Auto Show. The car was an instant hit, and Kalikow began taking deposits for cars that were set to go into production later in the year.

Unfortunately, Kalikow and Momo’s dream was cut short soon afterward. Since Peter was in New York, the physical distance and time zone differences between there and Italy made managing the project difficult. At the same time, Kalikow had just married and was continuing to develop apartment buildings throughout New York City. Although he traveled to Italy once a month to oversee progress, problems ensued as did the growing pressure from his family to refocus solely on real estate.

The final straw, however, came from circumstances out of both Kalikow and Momo’s control. As social unrest spread throughout Italy during the late 1960s and early 1970s, worker strikes became a daily occurrence. The consequent labor and material shortages led to a drastic increase in the cost of production. While the Momo Mirage was originally set to sell for around $13,000, the cost to make the car had almost doubled to $20,000. In June of 1972, Peter decided to shut down the Momo Corporation for good.

Peter returned to his real estate endeavors full time with his father Harold’s words in mind: “I have been in the real estate business my whole life and never missed a meal. There are lots of people in the car business that can’t make that statement.”