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New York

Plaza apartment could sell for $100M

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An Italian real estate executive in contract to buy an apartment at the Plaza already wants to sell it for $100 million, the Wall Street Journal reports. Luigi Zunino, CEO of Milan-based property company Risanamento SpA, hasn’t even closed on his third-floor apartment of 10,000 square feet yet. Anything even approaching the $100 million mark would easily overtake the record $60 million that developer Harry Macklowe paid for a Plaza apartment last June. If the apartment comes anywhere close to a rate of $10,000 per square foot, it would smash Manhattan’s record, believed to be an apartment at The Pierre that sold for $8,000 per square foot.