A second-floor duplex at the Plaza Hotel Residences sold for $2,751 per
square foot, about half the price that similarly sized units were
closing for last year. The three-bedroom unit with 4,283 square feet was sold by the developer,
Elad Properties, to a company called Paradeplatz Ltd. for $11.786
million. The condo faces Central Park in the rehabilitated hotel at 768 Fifth Avenue. The purchase by Paradeplatz went into contract in September 2008 and
closed May 15, according to city property records published today. [more]