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The Plaza Hotel

  1. developing
    What High-End Market Trouble? Plaza’s Versace Units Snapped Up Not worried by mortgage-market meltdown or stock-market volatility or spiking rates on jumbo mortgages? Still looking for a prime place to park your millions? We’ve got some bad news, then: The Plaza is nearly sold out. Indeed, even the two much-photographed, Donatella Versace–designed model apartments — dubbed “white” and “black” for their dominant color schemes and used by the building’s hotel-to-condo redevelopers to attract potential purchasers — have been snapped up, a Plaza source told us today. The 1,212-square-foot one-bedroom unit, which faces Central Park, fetched $6.9 million, while the 2,656-square-foot two-bedroom, with both park and western views, went for $12.5. (Neither of those prices includes the Versace trimmings, which would have cost who knows how much more.) But don’t give up yet, highfliers determined to live in a converted hotel space. The Pierre penthouse is still on the market, for a mere $70 million. —S. Jhoanna Robledo
  2. in other news
    A Brief Thought on Manhattan Real EstateA contract has been signed for what will be the most expensive apartment sale in New York City history, according to today’s Times. A “London-based businessman in the oil business” — for shame, local hedgies! — will pay $56 million for a triplex penthouse in the converted-to-condos Plaza Hotel. It occurs to us: With that same $56 million, by way of comparison, you could lease 100 Manhattan one-bedrooms — Citi Habitats puts the current average monthly one-bedroom rent at $2,567 — for a bit more than eighteen years. That’s all. Triplex Penthouse at the Plaza Hotel Set to Sell for $56 Million [NYT]