Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Plaza Sold, To Become Converted
By
tien mao
Published Aug 16, 2004
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
tien mao
Published Aug 16, 2004
Modified Mar 7, 2008
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Friday, it was disclosed that The Plaza Hotel, a New York landmark, was sold for the price of $675 million. Prince Alwaleed Bin Talal, the fourth richest person in the world, and Millennium & Copthorne Hotels sold the hotel to Elad Properties NY, a real estate developer. Because the hotel has been losing money recently, Elan plans to turn some of the rooms into condominiums.
Donald Trump, who had previously owned The Plaza, was surprised that it was losing money. "No kidding. That's one I did well with. It's a wonderful building." Gothamist is surprised that Donald Trump is going about feigning surprise at money losing ventures when his hotels are going belly up. Trump sold the hotel to the prince and the hotel group for $325 million.
The 18 floor hotel was built in 1907 for the price of $12 million and has 808 rooms. Elan also received the right to convert some of the rooms into condos, which was attained by previous owners. The rooms are likely to fetch top dollar, with estimates ranging from $2000-$4000 per square foot.
Tagged
donald trump
Elad Properties
gothamist
hotels
money
new york
News: NYC
Plaza Hotel
prince
real estate
the plaza
trump
tien mao
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
Police are still investigating bike crash that killed dad of 2 in Central Park
The family is raising money for the wife and two daughters he leaves behind.
By
Brittany Kriegstein
Published Sep 29, 2026 at 9:31 a.m. ET
NYC has a plan to stop homeless people from cycling between hospitals and the streets
The Bridge to Home program, which began last year, will officially expand to Brooklyn on Tuesday.
By
Karen Yi
News
NYC has a plan to stop homeless people from cycling between hospitals and the streets
The Bridge to Home program, which began last year, will officially expand to Brooklyn on Tuesday.
By
Karen Yi
Early Addition: Billy Joel is auctioning off 70 of his motorcycles
By
James Ramsay
Man dragged to death by subway in Brooklyn after getting caught on closing doors
By
Brittany Kriegstein
Upper East Side braces for affordable housing fast track, and backlash from residents
By
David Brand
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .