Buy This Iconic New York City Hotel for Only $560 Million
One of New York City’s most iconic addresses is up for sale. All you need is $560 million to buy it.
According to Bloomberg, the majority owner of New York City's Plaza Hotel, Sahara India Pariwar, is looking to find a buyer for the 18-story luxury hotel and condominium building located on Central Park.
Jeff Davis, the international director at Jones Lang LaSalle Inc., confirmed this to Bloomberg. “We do have the listing for the Plaza,” he said, but declined to comment any further.
As Architectural Digest reported, the hotel has changed owners several times in the past few years. Conrad Hilton was an owner, as was President Donald Trump.
If the hotel goes for $560 million, a number floated by Bloomberg, it will be among the most expensive hotel sales on a per-room basis. Even with that staggering price tag, however, the Plaza still won’t be the most expensive hotel sold in the city.
As Curbed noted, that distinction belongs to the Waldorf Astoria, which the Hilton family sold for $1.95 billion.
There are three rumored buyers already making the rounds, according to Architectural Digest: A Qatari sovereign-wealth fund, a Shanghai-based municipal investment fund, and Pras Michel (the co-founder of the Grammy-winning music group, the Fugees).
Any of these three potential buyers may actually be able to purchase the Fifth Avenue property for a steal, as Sahara India Pariwar's chairman, Subrata Roy, has been trying to find a buyer for the Plaza for more than two years.
So if living in the Plaza just like Eloise is your dream come true, maybe start with a low offer of just $559 million.