The Plaza, New York City’s iconic 109-year-old hotel and residence (formerly known as the Plaza Hotel) at 1 Central Park South will head for the auction block next month, says Bloomberg Business. An unnamed source claims the storied hotel will be offered in a foreclosure auction on April 26 along with the Dream Downtown hotel in Chelsea. The two mortgages total about $500 million, according to the report.
The 4,000-square-foot Plaza suite that Frank Lloyd Wright once briefly called home just got a price reduction (and a broker change) from $39.5 million to $26 million (h/t Curbed). As 6sqft discovered last year, Wright lived in the corner apartment from 1954 to 1959 while he was working on the Guggenheim Museum. Though the architect’s past residency certainly adds interest, the impressive pad at 1 Central Park South does a fine job impressing us on its own—and we’re not alone, clearly, since the home was featured in Architectural Digest in 2014.
Current owners James and Lisa Cohen (chairman of Hudson Media and home editor at DuJour magazine, respectively) bought the sprawling condo for $13 million in 2009 to use as a Manhattan pied-a-terre (their main residence is in New Jersey). Then they proceeded to gut-renovate and redesign the home with help from Louis Lisboa of VL Architects and interior designer Susanna Maggard. The apartment headed back to the market last year for a renovation-reflecting $39.5 million. Now the colorful, luxurious and impossibly large four-bedroom pad is asking a significantly slimmer but still sizeable $26 million.
The Plaza (L) and Goldfleck’s headstone at the Hartsdale Pet Cemetery (R)
Last week, we explored the history of the Hartsdale Pet Cemetery, America’s oldest and largest cemetery of its kind. We mentioned that beloved pets laid to rest in this upstate burial ground include much more than just cats and dogs. One of the most notable unconventional pets is Goldfleck, a lion cub who lived the life of royalty in the Plaza Hotel.
Goldfleck belonged to Princess Elisabeth Vilma Lwoff-Parlaghy of Hungary. She was a well-known portrait painter with a love for animals. After visiting New York twice, she moved to the city permanently in 1909, taking up residence in a 14-room suite on the third floor of the Plaza. She had seen a cute lion cub at the Ringling Brothers circus, but when she asked to buy him, the circus owners refused. They did, however, agree to sell him to Daniel E. Sickles, a Civil War hero whose portrait the Princess had just painted. He immediately turned the cub over to Princess Elisabeth.
Did you know that Frank Lloyd Wright was once a resident of The Plaza? Neither did we! The Post reports that the 4,000-square-foot pad the prolific architect briefly called home has just hit the market for $39.5 million. Wright lived in the corner apartment of the storied building from 1954 to 1959 while he was working on the Guggenheim Museum. The location right by Central Park—and a 30-minute walk from the site of his iconic creation—must certainly have bode well for the architect’s creative juices.
This troubled triplex penthouse at The Plaza just can’t seem to catch a break. It’s been a steady fall from grace ever since 2008, when an unhappy buyer who bought the $53.5 million place sight unseen sued for his $10.7 million deposit plus damages, claiming the home was misrepresented. Well, London-based developer Christian Candy purchased the pad for a comparatively dirt cheap $25.4 million in 2012 and tried to sell it for $59 million a couple of times in 2013. Now the plagued penthouse is back at the same $59 million asking. There’s something to be said for consistency. Let’s just hope the stars align this time and this “townhouse in the sky” finds an owner.
Daniyar Nazarbayev, the ultra-rich nephew of Kazakhstan President Nursultan Nazarbayev, is now leasing his equally ultra-luxurious four-bedroom at The Plaza Hotel for $55,000 a month, reports the NYDN. The beautiful 4,200 square foot home is certainly of a presidential caliber and comes dripping with the ornate features and finishes that have become so synonymous with the storied Plaza. With sunny Central Park views from every room and expansive north and west exposures, this home also hosts ceilings highlighted with mosaic stained glass and crystal chandeliers, artistically detailed moldings, a formal dining room, marble entry foyer, and much more—including a helluva lot of international drama to boot.
- The sultan of Brunei’s interest in the Plaza was all fluff, but the landmark hotel is still up for sale. The hotel will likely fetch $2B, but any deal will be extremely complicated given the current ownership structure. [NYT]
- Post-gentrifiers are upset with the post-post-gentrifiers that have driven Williamsburg’s prices sky high. [NYT]
- The George Washington Bridge Terminal is finally getting its long-awaited facelift. The station will be closed while the $183 million upgrade is undertaken. [NYT]
- Heritage Equity Partners’ Toby Moskovits talks about his conversion of St. Vincent De Paul Church in Williamsburg into a rental building. [Crain’s]
- A profile of the top investors backing NYC’s hottest real estate tech startups. [TRD]
- Brookfield‘s SOM-designed apartment tower near Hudson Yards has a new look. [Curbed]
The Plaza Hotel, image by Luxuo (left); St. Vincent De Paul Church in Williamsburg (right)
Real Estate Wire: Are Open Plans Falling Out of Favor?; The Sultan of Brunei Is Hotel Shopping in NYC, Mon, August 18, 2014
- A developer is demanding volunteers pay $1M if they want to keep their community garden. [NYP]
- The Sultan of Brunei is hotel shopping in NYC and London and is reported to have has his eyes set on The Plaza. [WSJ]
- A campaign to build a light rail system on Staten Island has been relaunched—nearly 10 years after the idea was first pitched. [DNA Info]
- Celebrated sculptor Alexander Ney, 74, is being evicted from his home after his landlord lied to him about his rent-stabilized status. Ney’s family is frantically trying to get everything out of the apartment before officials come to seize the property. [Gothamist]
- Three contaminated Bronx properties will be cleaned up and rebuilt as affordable housing with the help of $300,000 in federal grants and loans. [Crain’s]
- Are open plans losing their appeal? Frank Lloyd Wright is rolling over in his grave right now. [NYO]
An open plan apartment at Seven Harisson (left); The Sultan of Brunei (right)
When we think of Tommy Hilfiger we might imagine him in an all-American, red-white-and-blue outfit, standing in a nautical seashore cottage, but his penthouse at the Plaza couldn’t be any more the opposite than this vision. Instead of paintings of beach scenes there are Basquiats and Warhols (20 of the latter, to be exact); rather than white-washed walls there are entire rooms clad in marble; and instead of simple, shabby chic bedrooms there are opulent personal retreats that could fit entire NYC apartments within their footprint.
In short, Mr. Hilfiger’s city residence is nothing short of regal. He and his wife Dee Ocleppo purchased and combined three separate units in 2008, and they then embarked on a massive renovation of the duplex to emulate the old-world style of the landmarked building.