Plaza Hotel
The Rich Get Richer: $45 M. Plaza Apartment Deal, New York's Second Biggest Ever, Closes
In an epic article today on why the super rich are still spending superbly, the Times wrote that buyers have "already closed on 71 Manhattan apartments that each cost more than $10 million, compared with 17 apartments in that price range during all of 2007."
That stat was already outdated by lunchtime.
According to city records, an 11th-floor apartment at The Plaza sold this month for $45,100,956, which makes it the second most expensive apartment ever to close in New York. It's behind only Harry Macklowe's massive spread four floors down at the newly renovated hotel, and slightly beats the even $45 million that scary hedge fund guru Dan Loeb just paid for his 15 Central Park West penthouse. read more »
Stat of The Day: $10 M. Apartments Keep Moving
The Times' hedonistic front-pager this morning on how the very rich keep on spending, never mind the downturn, mentions this Manhattan housing market tidbit:
Buyers this year have already closed on 71 Manhattan apartments that each cost more than $10 million, compared with 17 apartments in that price range during all of 2007.
I wrote a couple of weeks ago in The Observer's print edition about the resiliency of the luxury housing market here. The average luxury apartment sales price cleared $7.66 million in the first quarter of 2008, according to appraiser Miller Samuel and brokerage Prudential Douglas Elliman. read more »
Plaza Celebrates 100 Years With Martha, Donald and ... Paul Anka!
Just after 8:00 on the evening of October 1st, with a large group of dapperly dressed guests gathered in Grand Army Plaza below, a 12-foot cake shining in the spotlight amidst them, and a small cast of hosts counting down from ten on stage, the first sparks of light erupted from the rooftop of The Plaza hotel. They flared into the air and then were followed by others of their kind, exploding from different roof levels in the building. Some shot out of windows, others stayed along the surface of the facade creating spiraling sparkles of light against the hotel. At the finale, the building appeared to explode, as small fireworks shot out of every window and rooftop with a burst of light. read more »
Universal Music C.E.O. Closes on $10 M. Plaza Condo
The Plaza officially has its first entertainment bigwig in residence.
Doug Morris, Chairman and C.E.O. of Universal Music, and his wife Monique have purchased a condo in the refurbished hotel for approximately $9.9 million, according to city records.
Mr. Morris got his start in the music business as a songwriter, penning such classics as the 1966 hit by The Chiffons “Sweet Talkin’ Guy.” He has since climbed up the ranks in the industry and now oversees a roster that includes 50 Cent, Elton John and Sting, just to name a few. read more »
Finally! The Plaza Records Its First Condo Sale
A condo has finally and officially sold in the renovated Plaza Hotel. While many units are under contract in the refurbished hotel, this is the first sale that has officially closed.
The sale appeared in city records on June 21 for $11.2 million. The buyer is listed as Hampshire Industries. read more »
$50 M. for a Plaza Condo? Welcome to the New Benchmark in Manhattan Luxury
Has a metropolis ever had such a lengthy era of debauched prosperity? Will the bubbly prices of hard-boiling Manhattan real estate ever simmer down?
No.
According to a source, a condo at the newly refurbished Plaza Hotel has gone to contract for at least $50 million, which quite easily makes it the biggest apartment sale ever in New York City. read more »
The Round-Up: Tuesday
- Stuyvesant Town renters hit with big increases. [NY Times]
- Condo market collapses--in other cities. [NY Times]
- Drama surrounds future Plaza Hotel retail. [NY Post]
- Trump wades into Soho trash debate. [NY Post]
- Bank wants fifth trade center tower as corporate tower. [NY Post]
- "Risk-free deal" for Brooklyn Bridge Park condo developer? [NY Post]
Did we miss any New York City real estate news this morning? Please send along tips and links.
The Round-Up: Friday
- Icahn, Macklowe suprise SL Green with Reckson bid. [Crain's]
- Two condo conversions, including 20 Pine, get financing. [GlobeSt]
- Judge tosses out Craigslist discrimination suit. [Chicago Tribune]
- Judge dismisses lawsuit against new Yankee Stadium. [NY Times]
- Corzine: Can Jersey afford property tax cuts? [NY Times]
- The U.S. department store makes a comeback. [NY Times]
- Crowne Plaza Hotel in Times Square sells for $362 million. [NY Post]
- Trump nears approval for Soho condo-hotel. [Daily News]
- New Jamaica Bay homes going for millions. [Daily News]
- Housing starts drop to six-year low. [MarketWatch]
Did we miss any New York City real estate news this morning? Please send along tips and links.
Going Once, Going Twice
A Red Bellman's uniform. Estimate: $200-300.
So, how about a nice bellman's uniform instead? read more »
On March, 15, Christie's will be holding an auction for various items that are far less expensive than the penthouse with park views.
The auction of the contents from New York's legendary Plaza Hotel feature a wide variety of unique artifacts, including furniture, china, decorative pieces and works of art from the Edwardian lobby, the Oak Room, the Oyster Bar, the Palm Court, the Persian Room, and the Grand Ballroom.Auction details and times to just take a peek are after the jump.
The Plaza Paradox
Despite Ron Lauder's protestations over the sullying of the Plaza Hotel's lobby, the city Landmarks Preservation Commission voted today in favor of changing the zoning designation to permit shops in the mezzanine's Terrace Room, a commission spokeswoman told The Real Estate.
The zoning change has to go before the city Planning Commission as well. The trick is, at the same meeting, the Terrace Room got landmarked, along with the Oak Room and six other spaces. read more »
That means that before the new owner, Elad Properties, can put in a Thomas Pink, it will have to go back to the landmarks commission with new plans. And they can fight about it all over again.
- Matthew Schuerman
