Rendering of Franklin Place in Tribeca

Franklin Place in Tribeca, once named 5 Franklin Place, has launched sales, Curbed reported. The developer, the Elad Group, has listed 10 of the 54 condominiums in the 20-story building on StreetEasy. The homes range from a studio for $950,000 to a four-bedroom for $7.5 million. Two penthouses are listed for $6 million and $7 million. [more]

From left: Eran Chen and the original rendering of 5 Franklin Place

The Elad Group, the new owner of the long-stalled 5 Franklin Place in Tribeca, has selected Eran Chen of ODA Architecture to complete the development, known as Franklin Place, Crain’s reported. The building is located at 371 Broadway — a section of Broadway that is not landmarked, meaning that the new development can stand up to 20 stories, which is enough for 53 condominium units.

“That section of Broadway, just south of Canal, is a natural extension of Soho; it’s very lofty, but it has that luxury feel of Tribeca,” Chen told Crain’s. [more]

Plaza Food Hall and Elad Group CEO Udi Erez

The former manager of the popular Plaza Food Hall by Todd English in the basement of the Plaza hotel says that the building’s majority owner, the Elad Group, owes it $3.8 million.

Brian Crawford, through his company TE Food Hall, filed the lawsuit yesterday in New York State Supreme Court, alleging that Elad ended the contract earlier this year, yet still uses the Todd English name and Crawford’s credit. The agreement was severed in preparation for Elad’s planned sale of its 60 percent interest in the property to the India-based Sahara Group for $400 million.  [more]

Yosi Manor

An Elad Group executive has left the international firm to join Miki Naftali’s new New York-based venture.

Yosi Manor, the former president and CEO of Elad National Properties, the Elad Group’s investment arm focusing on the Southeastern United States has assumed the role of chief financial officer and managing member of the Naftali Group, the firm told The Real Deal. Manor had served as president of Elad National (formerly known as Elad Group Florida) for seven years and managed a $1.2 billion portfolio that included more than 12,000 multi-family units. He started with Naftali Group today. [more]

22 Central Park South

The Elad Group is pushing to gain Landmarks Preservation Commission approval for a significant renovation to the Plaza’s next-door neighbor, according to Curbed. The developer, which is in talks to sell its stake in the Plaza, will present a new plan this week for the slim seven-story building just west of the famed hotel, at 22 Central Park South.

It has commissioned Goldstein Hill & West Architects to transform the building’s facade to lend it a more modern feel. Curbed said the plans involve replacing bricks with limestone, removing fire escapes and installing Juliet balconies while adding two floors to the top of the property. [more]

Sahara India Pariwar Chairman Subrata Roy Sahara and the Plaza Hotel

Sahara India Pariwar is close to closing on its acquisition of a stake in the Plaza Hotel, according to the New York Post, which has updated financial details on the deal. Contrary to previous reports, the Elad Group would not be selling its stake in the property for $600 million, instead it would be closer to $450 million as Saudi Prince Alwaleed Bin Talal’s Kingdom Holdings will hold on to its 50 percent stake in the 130 hotel rooms and public spaces and its 25 percent stake in the 100 condo-hotel rooms. [more]

Prince Alwaleed bin Talal and the Plaza Hotel

The widely reported $600 million offer for the Plaza hotel would not include the stake controlled by Saudi billionaire Prince Alwaleed bin Talal, according to Bloomberg News. Bin Talal’s Kingdom Holding Company had sold the Plaza to the Elad Group for $675 million in 2004, but then bought back a portion soon after, a spokesperson for the firm said. [more]

From left: Christian Candy, the Plaza and the $25.4 million penthouse

Elad’s final residential apartment in the Plaza Hotel, a three-level penthouse that was nearly sold three separate times, has finally sold for $25.4 million, the Wall Street Journal reported.

The 6,300-square-foot condominium unit, listed by Stribling & Associates broker Alexa Lambert, was bought by British property developer Christian Candy, famous for building London’s One Hyde Park. Candy, who was represented by Corcoran Group broker Louis Buckworth, said he coveted the unit for its iconic location and plans to use it as a home as he begins to explore development opportunities in the city. [more]

Naftali Group CEO Miki Naftali, the development site at 363 Fourth Avenue and a rendering of the approved project

A Park Slope development site approved for 106 residential units and on-site parking has been sold for $10.7 million, Brownstoner reported. The buyer is the Naftali Group, The Real Deal has learned (note: correction appended).

The lot is 10,801 square feet at the corner of Fourth Avenue and 6th Street and is approved for a building of approximately 10 times that square footage with 43 parking spots. It is slated for 78,883 square feet of residential space, 3,592 commercial square feet, a 639-square-foot community facility and comes with a 15-year tax abatement, according to the listing by James Dario of Kalmon Dolgin Affiliates, which asked $14 million. [more]

Brothers Gilbert and Jean-Louis Costes, whose Parisian hospitality empire includes Hotel Costes and the celebrity eatery L’Avenue, are eyeing New York’s iconic Oak Room and Oak Bar in the Plaza Hotel for another Costes hotspot, the New York Post reported.

Before making an offer however, they want to make sure they have permission to make “modest” changes to the landmarked trophy interior, including adding additional bathroom space for patrons, the Post said.

The former owner of the Plaza Hotel’s Oak Room, Eli Gindi, decided to close the restaurant amid a bitter dispute with the landlord earlier this year. According to the New York Times, Gindi gave the Plaza a 90-day notice of departure in April, after landlord Elad Group said the Oak Room would have to either cancel its lucrative “Day and Night” Saturday afternoon parties or pay more than twice its current rent. [Post]… [more]