Plaza Hotel

[andrew.w]

I have heard and read that the Plaza is planned or in the process of a condo conversion. Also there is concern for the preservation of the interior of the hotel despite being recently given landmark status.

Does anyone have any info? What I have found out is sort of confusing and contradictory.

[StevenRocks]

The Plaza is definately being converted into condos, and part of the street level is being turned into retail. The lobby is safe, but a lot of the public spaces, I think, will be desecrated.

[Hotlanta]

Didn't Trump buy it?

[StevenRocks]

Ivana Trump, not Donald.

[tombarnes]

The Eliad Group bought it last year and are in the process of ruining the place. It's depressing to think that one of the great landmarks of New York will now be just another private condominium. Service at the Plaza did suffer in the past few years, but it was still the Plaza dammit! You knew where you were. It wasn't just another anonymous Ritz-Carlton. Now that's lost to the traveling public and to New York as well. The city should be in mourning for its passing.

[tombarnes]

This article from the International Herald Tribune/Hotel News Resource has more about the conversion of the Plaza, the Stanhope and other hotels into condominium buildings. It appears that the value of residential property is roughly twice per square foot of that of a hotel room. This trend would indicate many more conversions in the future.

[tombarnes]

Plaza Auction

Although many run-of-the-mill items from the Plaza have already disappeared in a previous auction, items with higher tickets are being offered at Christie's. They are even sponsoring a ball at the showroom patterend after Truman Capote's famed Black and White Ball from the 60s. As much as the Plaza needed a thorough renovation, I'm still very sorry to see its history going out the window this way. New York is losing one of its great public spaces. Much of the renovated building will be off-limits to non-owners.

Auction at Christie's