{"id":3596222,"date":"2016-04-13T10:33:02","date_gmt":"2016-04-13T14:33:02","guid":{"rendered":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/?p=3596222"},"modified":"2016-04-13T13:24:35","modified_gmt":"2016-04-13T17:24:35","slug":"could-you-be-the-next-owner-of-the-plaza-hotel","status":"publish","type":"post","link":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/could-you-be-the-next-owner-of-the-plaza-hotel\/","title":{"rendered":"Could You Be the Next Owner of The Plaza Hotel?"},"content":{"rendered":"<figure id=\"attachment_607046\" aria-describedby=\"caption-attachment-607046\" style=\"width: 752px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/hauteliving.com\/wp-content\/uploads\/2016\/04\/shutterstock_258427958.jpg\" rel=\"attachment wp-att-607046\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-607046 size-full\" src=\"http:\/\/hauteliving.com\/wp-content\/uploads\/2016\/04\/shutterstock_258427958.jpg\" alt=\"shutterstock_258427958\" width=\"752\" height=\"501\" \/><\/a><figcaption id=\"caption-attachment-607046\" class=\"wp-caption-text\">The Plaza Hotel<\/figcaption><\/figure>\n<p>New York City without <a href=\"http:\/\/www.theplazany.com\/\" target=\"_blank\">The Plaza Hotel<\/a> is a city most natives wouldn\u2019t recognize. Where would Eloise go? Hopefully The Plaza\u2019s starlette won\u2019t have to go anywhere, but we will only find out on April 26.<\/p>\n<p>In 2014, <a href=\"http:\/\/www.sahara.in\/\" target=\"_blank\">Sahara India Pariwar<\/a>, 75-percent owner of The Plaza Hotel at the time, defaulted on loan agreements after chairman Subrata Roy was imprisoned for defrauding investors. Billionaire brothers David and Simon Reuben then bought the loan from Bank of China Ltd. and are the current holders of the mortgage on the New York icon. The Swiss duo will be joining the sale with their other luxury hotel property, the<a href=\"http:\/\/www.dreamhotels.com\/downtown\/default-en.html\" target=\"_blank\"> Dream Downtown<\/a> in Chelsea.<\/p>\n<p>The foreclosure auction, which the Reuben\u2019s have reportedly been working on for quite some time, could be the chance of a lifetime. The Plaza Hotel has seen its fair share of owners. Donald Trump bought the hotel in 1988 before selling it to Troy Richard Campbell for a casual $325 million. This could be your turn to own a piece of New York history, if you\u2019ve got a spare $1 billion lying around. The grand hotel boasts 282 hotel rooms and 152 privately owned condo units. But only the hotel, restaurants, and retail shops will be sold.<\/p>\n<p>\u201cThe Baccarat just went for $2 million a key,\u201d one hotel developer told <em><a href=\"http:\/\/nypost.com\/2016\/03\/16\/this-could-be-your-chance-to-own-the-plaza-hotel-if-you-have-1b\/\" target=\"_blank\">The Post<\/a><\/em> of the luxury hotel, which sold for $230 million to a China-based insurance group.<\/p>\n<p>\u201cThe Plaza will likely go for more,\u201d as much as $3 million a key or more, \u201cdue to its trophy location on Fifth Avenue and its history,\u201d<em><a href=\"http:\/\/nypost.com\/2016\/03\/16\/this-could-be-your-chance-to-own-the-plaza-hotel-if-you-have-1b\/\" target=\"_blank\">The Post<\/a>&#8216;s<\/em> source said.<\/p>\n<p>\u201cIt\u2019s been a dirty little secret that The Plaza has been headed to foreclosure,\u201d an industry source said, adding that \u201cthere are some offers in the wings.\u201d<\/p>\n<p>The day of reckoning is coming up this month. There is no telling how long it may be before you\u2019d get another chance at making your mark on the history of New York City. So if you\u2019ve got the big bucks, let\u2019s just say, the time is now.<\/p>\n<figure id=\"attachment_607047\" aria-describedby=\"caption-attachment-607047\" style=\"width: 752px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/hauteliving.com\/wp-content\/uploads\/2016\/04\/Screen-Shot-2016-04-08-at-11.52.29-AM.jpg\" rel=\"attachment wp-att-607047\"><img decoding=\"async\" class=\"size-rtp-gallery-slider-image wp-image-607047\" src=\"http:\/\/hauteliving.com\/wp-content\/uploads\/2016\/04\/Screen-Shot-2016-04-08-at-11.52.29-AM-753x502.jpg\" alt=\"Dream Downtown\" width=\"752\" height=\"501\" \/><\/a><figcaption id=\"caption-attachment-607047\" class=\"wp-caption-text\">Dream Downtown<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>New York City without The Plaza Hotel is a city most natives wouldn\u2019t recognize. Where would Eloise go? Hopefully The Plaza\u2019s starlette won\u2019t have to go anywhere, but we will only find out on April 26th.<\/p>\n","protected":false},"author":67,"featured_media":3596226,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1749,1],"tags":[],"class_list":["post-3596222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hlrn","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Could You Be the Next Owner of The Plaza Hotel?<\/title>\n<meta name=\"description\" content=\"New York City without The Plaza Hotel is a city most natives wouldn\u2019t recognize. Where would Eloise go? 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