Description

PLAZA GRAND PENTHOUSE SUITE 7% RETURN

This stunning trophy property is an incredible opportunity to own a piece of New York City History in the Iconic Plaza Hotel! This Condotel generates dramatic income monthly to the owner after all expenses. The Owner can stay anytime they want up to 120 days a year at a minimal, additional daily cost. The Plaza Grand Penthouse Suite, is a palatial duplex which offers breathtaking views of Central Park and the New York City skyline and a large Terrace. Exquisitely furnished in classic Louis XV style, this breathtaking Penthouse suite is over 2100 sq ft (195 sq. m) with a 540 sq ft (50 sq. m) terrace off the master bedroom. The first floor features a gorgeous corner living room with stunning views of Central Park through oversized arched windows. There is a separate dining area for 12, a second master bedroom suite, and a beautifully appointed powder room. An elegant staircase then leads you to the second master bedroom suite with an expansive and beautifully landscaped terrace, park views and a separate study area. Both bedrooms have king beds, are tremendously grand and all of the rooms offer city or direct park views with complete privacy. There are also two large owners closets. Premium amenities include: Marble, wood-burning fireplace in the living room, Butler's pantry and marble wet bar with microwave oven and under counter refrigerator, White glove butler service, Smart home technology controlling temperature, lighting and other services, gorgeous baths including 24-carat gold plated Sherle Wagner faucets, mosaic floors and walls with a gilded leaf motif, deep soaking tubs with separate showers & private WC, Additional full size sofa bed, and Large wood paneled luxury closets with built-in drawers & storage. Priced competitively, with an excellent annual net return (for 2017-2019), this is a once in a lifetime opportunity to own a truly unique and spectacular pied-a-terre and income producing property. PH2040 rents for up to $28,000 per night..

The Plaza Hotel which had 804 rooms was converted into a hotel and a residential condo in 2007. The new Plaza Hotel has only 282 rooms which is a reduction of 66%. This iconic hotel continues to have high demand and now with far fewer rooms the occupancy and rates are quite high which greatly benefits the condo hotel owners.

This spectacular Penthouse netted after all hotel expenses and property taxes over $600,000 in the trailing 12 twelve months since re-opening mid late May 2021! Please call for an appointment to see it and view it in the online video. Listing courtesy of Brown Harris Stevens Residential Sales LLC ...
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