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“We are not selling our stake and are comfortable with our rights relating to any sale by others,” said Sarmad Zok, chief executive of the prince’s company, Kingdom Hotel Investments . “We are proud to have partnered with Ashkenazy to reinstate the glory of this unique asset.” The partners have a plan for an extensive modernization program to better compete with other five-star hotels in Manhattan and to reopen areas of the hotel that have been bogged down in renovations. The Plaza’s famous Oak Room and the wood- paneled Oak Room Bar have been closed for the past six years. Whether Mr. Roy and Sahara truly intend to sell or are merely trying to bolster the price, they appear to be pressing forward. “We’ ll solicit bids ,” said Jeffrey Davis, an international director of JLL, who is overseeing the bidding for Sahara. “It’s the most iconic real estate asset in the world. It’ ll garner international attention .” Mr. Davis declined to comment on whether Kingdom Hotel Investments has ...

“We are not selling our stake and are comfortable with our rights relating to any sale by others,” said Sarmad Zok, chief executive of the prince’s company, Kingdom Hotel Investments . “We are proud to have partnered with Ashkenazy to reinstate the glory of this unique asset.” The partners have a plan for an extensive modernization program to better compete with other five-star hotels in Manhattan and to reopen areas of the hotel that have been bogged down in renovations. The Plaza’s famous Oak Room and the wood- paneled Oak Room Bar have been closed for the past six years. Whether Mr. Roy and Sahara truly intend to sell or are merely trying to bolster the price, they appear to be pressing forward. “We’ ll solicit bids ,” said Jeffrey Davis, an international director of JLL, who is overseeing the bidding for Sahara. “It’s the most iconic real estate asset in the world. It’ ll garner international attention .” Mr. Davis declined to comment on whether Kingdom Hotel Investments has ...

Waldorf Astoria Beverly Hills recently opened ." width="580" height="326" /> The Waldorf Astoria Beverly Hills recently opened .  (Photo: Waldorf Astoria Hotels & Resorts)   The U.S hotel industry reported positive year -over-year results in three key areas during the last week of July. Occupancy rates were up 0.3% to 77.4%. The average daily rate reached $132.21, an increase of 1.2% over the same week last year. And revenue per available room was up 1.5% to $102.39. That’s all based on the latest data from research firm STR for the week of July 23 to July 29. Hoteliers moved into August feeling optimistic , with a slate of new openings, renovations and other updates. First new Waldorf Astoria on the West Coast opens The iconic Waldorf Astoria New York may be closed for renovations for the next few years, but the luxury brand has moved to the West Coast. Waldorf Astoria Hotels & Resorts, Hilton’s luxury brand, opened the Waldorf Astoria Beverly ...

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 Wars starring 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....

Hillary Clinton slept here. The year was 2000. Clinton was in the middle of her first political campaign, running to be New York’s junior senator. Steven Spielberg, an enthusiastic donor to Mrs Clinton who had the use of a pied-à-terre in Trump Tower purchased for him by Universal Pictures, barely stayed at the place, despite its views of Central Park, and offered it to the candidate as a crash pad on gruelling campaign days . Trump Tower in New York. Photo: Bloomberg Donald Trump and Clinton were on good terms back then. He donated money to her candidacy and called her “tough and smart”. Moreover, Trump was skilled in the art of spinning his associations with celebrities into publicity. This was particularly true at Trump Tower. Michael Jackson lived in Donald J. Trump’s gleaming Midtown edifice . So have gamblers, a disgraced dictator, a Ponzi schemer and a stock huckster. Credit Photo Illustration by Peter Horvath; photographs by Chad Batka for The New York Times (Trump); Hiroko...

CLEVELAND, Ohio -- A Lyndhurst hotel and a pair of projects that will bring nearly 500 apartments to Cleveland won financing support Tuesday from the Cleveland- Cuyahoga County Port Authority . The port's board signed off on nearly $200 million in real estate- related bond transactions , setting the stage for construction to start within months on a trio of projects. The agency acts as a conduit for development financing, issuing bonds and helping to structure deals that involve longer terms , lower interest rates or cheaper construction materials than a borrower might find in the private market. Tuesday's headline deals were: A  Hyatt Place hotel and a 355- space parking garage at the Legacy Village shopping center in Lyndhurst. Developer Mitchell Schneider hopes to start construction in May and to complete the $33 million project by June 2016, in hopes of grabbing hotel- room demand generated by the Republican National Convention in July. The 135-room hotel and gara...

TOLLING THE TYCOONS — Albanese calls for 'politically popular' pied-à-terre tax, by POLITICO New York’s Conor Skelding : Foreign "oligarchs" who own real estate in New York but don't live in the city should have to pay two or three times what they pay now in property taxes, Democratic mayoral candidate Sal Albanese said Wednesday. The "politically popular" new tax's revenue, which Albanese said would amount to billions, could then be put toward the development of affordable housing . "Look, there's a lot of money across the world that people want to outsource," he said during a news conference outside the gates of City Hall. "There's a lot of money there, and we can use that to build real affordable housing ." Mayor Bill de Blasio promised years ago to "take a look" at a pied-à-terre tax, but the proposal is opposed by many of the city's real estate interests . "They own Bill de Blasio , big real estat...

New York Wheel on Staten Island STATEN ISLAND, N.Y. - Aug. 22, 2017 - PRLog -- Once known as the "forgotten borough", Staten Island is the new hot spot when looking for real estate.  Developers are flocking to the North shore of Staten Island as it is undergoing a major facelift.  With plans of building more water-front apartments and attractions, there is no stopping this borough from major changes.  Other parts of Staten Island including Freshkills Park are set to be transformed into a 2,200-acre park by 2030. Below are the top 5 renovations taking place on Staten Island, New York. • New York Wheel- This is said to be the tallest observation wheel in the world. When complete the New York Wheel will be accompanied by a 10, 000 square foot playground , a five- acre green roof for events, and an outdoor beer garden . • Empire Outlets- This outlet mall will include a 12, 000 square foot food court , 100 stores, an outdoor space of 3, 000 square feet and a 190 room hote...

1. If you can make it here… New York has long been the ultimate testing ground for businesses. But the city’s population density also makes it an important laboratory for startups, especially in today’s on-demand economy. Food- delivery pioneer Seamless survived the dot-com crash, paving the way for the arrival of meal-kit services such as Blue Apron and Plated a decade later. Related View this story in its original print layout Density has also been instrumental to the growth of ride-hailing and car-sharing companies. Most of them, including Uber and Lyft first gained their footing in smaller cities, then made New York their biggest market. Via, the on-demand ride-pooling service, launched here in 2013, is the exception: Its founders chose New York, figuring riders packed together on subways and buses wouldn’t need much persuading to share a car with strangers, especially when it cost just $5. article continues below advertisement App- based transportation startups have flocked t...