Real Estate

Finally! The Plaza Records Its First Condo Sale

by Mark Wellborn  |  June 25, 2007
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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.

In August 2004, El-Ad Properties bought the Plaza at 768 Fifth Avenue for $675 million and then proceeded to completely refurbish it. The new and improved property will open in October with 282 hotel rooms and 182 condo units. The Observer broke the news in May that a Plaza condo went to contract for the eye-popping price of $50 million.

What happens when that unit closes? A party, we suspect; a very big party.

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