So many of us have either seen it in movies, or walked through the hallowed doors of the Plaza Hotel ourselves. Originally opened in 1907, the 18-story luxury hotel and condominium apartment building has become one of the biggest architectural attractions for tourists visiting the Big Apple. And now, one of the world's most famous buildings is on the market. According to the Wall Street Journal, Sahara Group, an India-based conglomerate and the hotel’s majority owner, has enlisted JLL Hotels and Hospitality Group, to sell the iconic New York City landmark.
With such a well known landmark (which underwent a $400 million dollar restoration in 2008) the Plaza Hotel has been a sought-after property for many real estate moguls and high-end hoteliers. Just in the past few decades the hotel has gone through several owners, including Conrad Hilton and Donald Trump. And while we don't know exactly how much a potential buyer will pay for the hotel, the WSJ suggested it could go for around $560 million, making it among the most expensive hotel sales on a per-room basis (a staggering figure from its initial $12 million original construction cost in 1907). It is rumored that a Qatari sovereign-wealth fund, a Shanghai municipal investment fund, and Pras Michel (the Grammy-winning co-founder of the Fugees) are among those that have expressed interest.
