Slow sales at the Plaza

At the Plaza, apartment inventory has been growing and little is selling. According to the Times, there are about 30 listings at the Plaza, with a total asking price of more than $250 million, and only one resale has closed since September 2008. Jonathan Miller, president of appraisal firm Miller Samuel, said at the peak of the market, sales at the Plaza and 15 Central Park West “fed off each other,” driving prices even higher. Miller said that sales over the next two years would establish which building will hold its value better, and that “early signs are showing that 15 Central Park West has more interest.”

Sign Up for the undefined Newsletter