The Plaza | The Real Deal New York

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The Plaza

768 Fifth Avenue
New York, NY 10019
(212) 807-6161
Website
Hotel, Retail, Residential, Sales, Conversion, Leasing/Rental, Condo (Building), Multifamily

The Plaza, formerly known as the Plaza Hotel, is a residential condominium building at 768 Fifth Avenue at the southeastern corner of Central Park. The landmarked 20-story building opened in 1907 as a hotel designed by Henry J. Hardenbergh. Ownership changed hands several times, including to Conrad Hilton in 1943 and Donald Trump in 1988. Trump sold it in 1995 for $325 million to Troy Richard Campbell, who then sold it nine years later to Elad Group for $675 million. Elad closed the Plaza in April 2005 for extensive renovations and to convert the property into high-end condominiums. The building reopened in March 2008 as 130 hotel rooms, 152 hotel-condo units that owners can rent out if they live in them a certain number of days a year, and 182 luxury condos. Developer Harry Macklowe purchased one such Plaza condo for $50 million. In 2011, Russian composer Igor Krutoy paid $48 million for a 12th-floor spread. Two buyers, who purchased condos sight unseen during the renovation, later sued the developer for misrepresenting the quality and finishes of the product. Facing competition from the needle towers of Billionaires' Row on 57th Street, sales prices at the Plaza have dropped considerably since 2007. The Indian investment firm Sahara India Pariwar owns a controlling stake in the building.

  • Address 768 Fifth Avenue
  • neighborhood Plaza District
  • borough Manhattan
  • owner Elad Group
  • developer Elad Group
  • owner entity CPS 1 REALTY LP
  • architect GOLDSTEIN,HILL & WEST ARCH
  • PLANS DISCLOSED 06/06/2005
  • dob permit issued 11/09/2005
  • tco issued 06/04/2007
  • DOB FILE PLANS 06/06/2005
  • DOB FILE Link
  • LIST/LAUNCH SALES 06/20/2006
  • height in feet 251
  • floors 19
  • AG Initial Price $ 365,555,000
  • ag file plans 02/07/2006
  • AG FILE Link
  • residential units 191
  • commercial units 3
  • const. status Condo Complete
  • block and lot 1-01274-7504
  • BIN 1035253
Condominium Units+

06/19/17
...contract was British developer Christian Candy's penthouse at the Plaza, which was asking $39.75 million — a discount from the original asking price of $59 million. Candy...

06/14/17
...in 2014. Candy paid $35 million for the home. At the Plaza, Candy cut prices and switched brokers several times. Most recently, it was listed with...

05/31/17
...Talal in a bid to gain control of the Plaza Hotel from imprisoned partner Subrata Roy.  – Rich Bockmann (To view more of Ashkenazy Acquisition's...

05/25/17
...From left: The Plaza Hotel, Ashkenazy Acquisition's CEO Ben Ashkenazy and Saudi Prince Al-Waleed Bin Talal (Credit: Getty...

05/09/17
...and being next to green space next to the plaza is why it's so attractive" to tenants, Glickman said. Ken Rapp, Ramsey Feher, Lisa...

05/09/17
...Street. Zegna is moving its corporate offices to the Plaza District building, where it plans to take 20,132 square feet across the entire seventh floor...

04/25/17
...From left: The Plaza Hotel, Shahal Khan, the Dream Downtown Hotel and Subrata Roy A New York State...

04/20/17
...million in back rent. The salon had leased the Plaza District mansion, located at 10 West 56th Street since 2015 but it was forced out after...

04/20/17
...glass cubical structure at Apple store entrance” at the plaza outside 767 Fifth Avenue on April 12. Apple is expanding its flagship location from 32,000 square feet...

04/06/17
...marble floors imported from the Vatican, chandeliers from the Plaza Hotel, along with a full gym, sauna and a terrace with a hot tub...

04/04/17
...Christian Candy and penthouse 2009 at the Plaza (credit: Getty Images and Sotheby’s International Realty) From LLNYC: Christian Candy, the British...

04/04/17
...a $42 million acquisition loan in 2014. Elad , owner of the Plaza Hotel and co-developer of 1 West End Avenue with Silverstein Properties, bought the block-through site...

03/21/17
...other,” he said. “People will enter Pier 17 from the plaza on the south side of it — not through the Tin Building.” Star chefs Jean-Georges...

03/02/17
...office buildings in TRData's database in Midtown East, the Plaza District and Grand Central neighborhoods, click here...

02/27/17
...International Hotel & Tower, 15 Central Park West and the Plaza Luxury condominium owners have some real rich excuses why they haven’t paid their...

02/16/17
...to move its New York City offices from the Plaza District to less expensive space in Times Square. The McLean, Virginia-based company will relocate...

02/14/17
...Jürgen Friedrich's unit at the Plaza From Luxury Listings NYC: Jürgen Friedrich, a former top executive at fashion brand...

02/10/17
...the building is one of a few in the Plaza District that has the large floor plates desired by top hedge funds. Tenants include...

01/27/17
...Avenue, a 12-story building in the heart of the Plaza District that is home to Prada's flagship in New York. Aareal Capital Corporation provided...

01/25/17
...The GM Building On a budget? Skip the Plaza district. The tony neighborhood defended its unofficial title as the city’s most expensive...

01/09/17
...city’s most famous properties fly foreign flags. The Plaza Hotel, for example, is controlled – though likely not for long – by India’s embattled...

01/07/17
...Caudalie Vinothérapie Spa From Luxury Listings NYC: The Plaza Hotel’s renowned Caudalie Vinothérapie Spa, a spot which caters to the likes...

01/06/17
...deals such as 666 Fifth, the MetLife Building and the Plaza Hotel. They then signed a five-year contract, which was later renewed in 2015 with the...

12/21/16
...Under Armour deals, anchoring the north end of the plaza the way that Bergdorf Goodman does on the southern end. And early signs indicate...

12/13/16
...asking in 2013. Hilfiger told the Wall Street Journal the Plaza is a second home, and he and his wife spend most of their time...
  • Event Retail Leasing
  • Building Name Fifth Avenue and Central Park South
  • Address 1 West 58th Street
  • Neighborhood Central Park South
  • Borough Manhattan
  • Square feet 4,720
  • Publication Date 04/01/2012
  • Event Date 02/21/2012
  • Party 1 Elad Group
  • Party 1 Brokerage In-house
  • Party 2 Angelo Galasso
  • Party 2 Brokerage Crown Acquisitions
  • Party 2 Broker Ralph Chera, Jordan Barker
notes
The menswear designer signed a lease for retail space at the Plaza Hotel's Edwardian Room.
  • Event Financing
  • Building Name Plaza Hotel
  • Address 768 Fifth Avenue
  • Neighborhood Central Park South
  • Borough Manhattan
  • Publication Date 12/01/2008
  • Event Date 10/22/2008
  • Party 1 El-Ad Group, Kingdom Holding
  • Party 2 HSBC Bank, Transwestern Realty Finance Partners
notes
A $260 million financing was provided to convert a construction loan for the hotel portion of the property into a long-term, permanent mortgage. The refinancing included a $40 million mezzanine loan provided by Transwestern Realty Finance Partners. 21-story mixed-use building.
  • Event Sales
  • Building Name Plaza Hotel
  • Address 768 Fifth Avenue
  • Neighborhood Central Park South
  • Borough Manhattan
  • Price $ 500,000,000
  • Publication Date 11/01/2005
  • Event Date 09/22/2005
  • Party 1 Elad Group
  • Party 2 Prince Alaweed bin Talal
notes
The sale of the non-condo part of the Plaza, worth $500 million, is subject to the approval of the state attorney general's office, which could come as soon as the end of October. Prince Alaweed sold the Plaza for $675 million in August 2004.

...saw blockbuster filings like 15 Central Park West and the Plaza Hotel. Now the question is: What’s to come? And what will we find...

03/24/16
...TRD of NYC Department of Finance records showed. The Plaza District was the most active neighborhood for commercial loans, with more than $5.6 billion in...

02/16/16
...Street, and some of its most iconic — including the Plaza Hotel and the San Remo. These renovations show a dual demand for upgrades in...

...five years. That includes a 32,000-square-foot space at the Plaza Hotel and Brookfield Place’s two food halls — Le District and Hudson Eats — which...

12/11/15
...sale transactions so far this year has been the Plaza District, boosted by the trades of the Waldorf Astoria Hotel for $1.95 billion and the...

...co-owner of the Oak Room and Bar at the Plaza Hotel. One of those is co-owned with his former Oak Room partner Jeffrey Gindi...

...Engel & Völkers has two listings in the Plaza’s Private Residence totaling $57 million. Big-ticket properties bolstered the brokerages that led this year...

...of Sheldon Solow’s 9 West 57th Street, in the Plaza District, information from leasing database CompStak showed. Veritas, now located at 590 Madison Avenue, did...

...listings, and resales like the Dome Penthouse at the Plaza Hotel, which is on the market for $80 million. Lenz did not respond to a...

...buildings included the Towers of the Waldorf Astoria, the Plaza at 1 Central Park South, and 15 Central Park West. “I think that the properties being...

...more than $100 a square foot, for 15 floors in the Plaza District building. But in 2010, Colgate returned the 16th floor to the building’s landlord...

...square feet listed as available — about 41 percent of the Plaza District building. Midtown A small block of pricey Midtown space hit the market last...

...per square foot of high-end deals concentrated in the Plaza District. Through late last month, 28 leasing deals with rents of $100 per square foot and...

...of rumors about pricey leases being negotiated in the Plaza District. “We are about to see some significant deals in the high end of...

...by commercial firm Jones Lang LaSalle last month. The Plaza submarket — which JLL defines as 47th to 65th streets between Sixth Avenue and the...

...law firm that has about 80,000 square feet in the Plaza District with four years left on its below-market, $60-per-square-foot lease. The firm is trying...

...lease for 450,000 square feet at 520 Madison Avenue in the Plaza District. That deal and others are “a fairly sign that we are going to...

The uncertain economy kept larger companies at bay in 2012 when it came to buying and leasing Manhattan office buildings. On the investment sales side,...

...across Manhattan — such as a $46,500-a-month penthouse at the Plaza Athenee Hotel — the Waldorf makes up the majority of her business. Click to enlarge...

...just behind the Apple store, and across from the Plaza Hotel. One source said food retailers were eyeing the site, but it isn't clear...

...for space for a high-end technology firm in the Plaza District are running into the reality of rising rents and less flexible landlords. " are...

...some cases. Indeed, in specific markets such as the Plaza District, asking rents have climbed to as much as $140 per square foot. While at...

...statistics showed. Studley researcher Coutts noted that in the Plaza District, large tenants were taking advantage of low prices to sign renewals, though still...

...of 1.42 million square feet, the CBRE data showed. The Plaza District was 78 percent behind the five-year average, with just 20,000 square feet leased that month...

...square feet each that were in negotiations in the Plaza District and Lower Manhattan. Midtown About 1.14 million square feet of direct and sublease space...
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