New York apartment sold for more than $50M
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Sun, 20 May 2007 22:08:00 GMT |
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NEW YORK, May 20 The New York real estate market reportedly passed a major milestone recently when an apartment in the city's famed Plaza Hotel sold for more than $50 million.The astounding real estate sale, which has not been confirmed by the hotel's developer, would represent the most money ever paid for a New York City apartment, the New York Daily News said Sunday.If the figure is confirmed, it would surpass the record of $45 million paid by hedge fund manager Daniel Loeb for his 15 Central Park West penthouse.The Plaza Hotel is in the midst of a $400 million renovation project since being purchased El-Ad properties and is scheduled to reopen in October.The 2004 marketing plan for the revamped hotel included plans to sell Plaza condos for a maximum $32.5 million. The Daily News said those figures were likely adjusted since New York real estate has skyrocketed over the last three years.Copyright 2007 by UPI
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