The Iconic Plaza Hotel Is For Sale

One of Manhattan's most iconic landmarks just hit the real estate market, and is poised to become one of the most expensive per-room hotel sales in history: The Plaza is currently being sold for an asking price of $500 million, but experts say will probably fetch quite a bit more.

"June at the Plaza." It's not just a semi-throwaway line in the 2009 rom com Bride Warsstarring Kate Hudson and Anne Hathaway. It's also a cherished rite of passage and tradition each year for New York brides and high society alike — white tie parties, afternoons of high tea, and evenings filled with literary salons, much celebrating and culture has revolved around The Plaza.

The Wall Street Journal reports that the iconic hotel on Fifth Avenue at Central Park South has just hit the market for $500 million, but will probably fetch closer to $560 million — after a $450 million renovation investment by the current owners, India's Sahara Group, less than a decade ago in 2008.

Opened in 1907 (and constructed for $12 million, closer to $300 million in today's dollars), "the 18-story luxury hotel and condominium apartment building has become one of the biggest architectural attractions for tourists visiting the Big Apple," writes Architectural Digest — with its legendary Palm Court, marble and chandelier fixtures, and French Chateau feel right in the center of bustling Manhattan.

Everyone who's anyone has stayed at the 5-star luxury hotel at some point, from literary greats like F. Scott Fitzgerald to "its most precocious resident," childhood heroine Eloise — and it was once said that "Nothing unimportant ever happens at The Plaza."

Read more about who has a stake (as well as rumors of who might buy the landmark property) over on the Wall Street Journal, Bloomberg, the New York Times, and Architectural Digest.

Comments

Post a Comment

Popular posts from this blog

Parents of Student Murdered by Maintenance Man Sue Apartment Complex

He pleaded guilty to murder late last year, now the case of a maintenance worker who killed a Blinn student is back in court. The parents of 20-year-old Jenna Verhaalen are suing the Bryan apartment complex where she was killed. Verhaalen was strangled at the Autumn Woods Apartments in 2008, by 27-year-old maintenance worker Jeremiah Rosser . The suit claims Autumn Woods ignored complaints made about Rosser. Specifically, a complaint they claim Jenna made to Rosser's boss, when he entered her apartment while she was in the shower. The suit alleges the complex's negligence led to Jenna's death. Attorneys for Autumn woods said management had no reason to believe Rosser was a risk. However, that's not what the complex's corporate office told News Three in 2008. Back then, a spokesperson said Jenna complained to the maintenance supervisor about Jeremiah Rosser , but never filed a complaint with the office. Rosser quit his job at Autumn Woods several day
Read more

“Blacklist” star Megan Boone lists West Village apartment for $2.4M

Image
Megan Boone and her apartment at 302 West 12th Street (credit: NBC and BKR Partners) Megan Boone, who  plays FBI agent Elizabeth Keen on NBC’s crime thriller “The Blacklist,” has just listed her condominium at 302 West 12th Street for $2.4 million, per city records. (credit: BKR Partners) Boone bought the apartment in 2014 for $1.85 million. According to the listing, with Brian Kanarek of BKR Partners, the 837-square-foot unit has one bedroom and one bathroom. It overlooks tiny Abingdon Square Park, and has a large fireplace, soundproof windows, high ceilings, a walk-in closet and access to the communal landscaped roof terrace . Kanarek did not immediately respond to request for comment. (credit: BKR Partners) Per city records, Boone and her husband, artist Dan Estabrook , bought a townhouse in Carroll Gardens in March 2016 in an off-market deal. In addition to starring on “Blacklist” with James Spader, Boone has also appeared on “Law & Order: LA,” “Blue Bloods” and the film “St
Read more

Charlotte affordable housing forum raises possible solutions

There’s a big demand for more affordable housing in Charlotte, where rents and home prices have shot up much faster than wages over the past few years. Many of the apartments being built now target more affluent renters, waitlists for housing vouchers are long and starter homes are snapped up almost immediately. So why aren’t developers building more affordable housing ? That was one of the main questions at a candidate education panel hosted by the Greater Charlotte Apartment Association on Friday, where about two dozen candidates for Charlotte City Council turned out to learn some of the basics on a complicated subject. “ Affordable housing is one of the topics you’ll talk about a lot,” Bryan Holladay, who supervises the group’s government affairs outreach , told the candidates. The subject is an alphabet soup of acronyms (like NOAH, or “ Naturally Occurring Affordable Housing ”) and overlapping terms and definitions. Sometimes when people say “ affordable housing ” they mean go
Read more