Plaza Hotel Condos Run Into a Rough Market

Posted: July 23, 2024 | Source: nypost.com

With a slower market and more competition from newer buildings with more amenities, New York’s famed Plaza Hotel is faced with a glut of unsold condo units. Almost one-fourth of the hotel inventory is currently listed for sale, and prices have sometimes plummeted. Fashion designer Tommy Hilfiger’s unit was on the market for 11 years, listed as high as $80 million, but finally sold for just $31.25 million.