In 2008, the average Plaza condo sold for $3,726 per square foot, compared to $3,897 this year, representing anemic growth of 4.6%, according to data from CityRealty. The final sale price also underscores how inflated initial apartment prices were in the building ahead of the financial crisis of 2008.įor instance, the Plaza’s average price per square foot today remains roughly unchanged from when the newly converted apartments were handed over to the first residents in 2007-08. Hilfiger to sell his lavishly decorated penthouse underscores how the building has struggled under shifting ownership since 2007, when it was partially converted into condos. The landmarked Plaza Hotel, which has set the backdrop to classics from the 1992 film “Home Alone 2” and the aforementioned children’s “Eloise” book series, remains one of New York City’s most iconic buildings. His new acquisition includes one of the building’s four domed cupolas and has a custom paneled office a tea room with a hand-painted mural by Hilary Knight, author of “Eloise at The Plaza” a bistro-inspired kitchen, a red carpet-lined staircase a terrace overlooking Central Park and bedroom suites currently designed with nautical, rock ‘n’ roll and lavender fields themes, according to the most recent listing with Sotheby’s International Realty.Ī representative for the brokerage did not immediately respond to a request for comment. He could not be reached for comment.įrom Penta: Hockney’s ‘Sur la Terrasse’ Could Net $45 Million at Christie’s

Taylor, an automotive tycoon who reportedly owns more car dealerships than anyone else in the U.S., used a limited liability company for the purchase. The new owner of the roughly 5,600-square-foot spread is Terry Taylor, according to property records. The four-bedroom penthouse continued to bounce on and off the market until its price landed most recently back at $50 million. It was next listed in 2013, when it tried the $80 million price tag on for size, listing records show. Hilfiger, 68, put the spread back on the market for $50 million-to little avail. More: Low Taxes Drive Up Luxury House Prices in South Floridaĭespite the significant discount, the sale price is still more than the $25.5 million the pair spent on the two units in 2008, which they went on to combine.Īlmost immediately after his purchase, Mr.

The final sale price was $31.25 million, 61% cheaper than the $80 million that the fashion mogul and his wife, Dee Ocleppo, once shopped it for, records show. After roughly 11 years on and off the market and myriad price cuts, clothing designer Tommy Hilfiger has finally parted with his eccentric Manhattan penthouse at the Plaza Hotel, according to property records filed with the city on Tuesday.

Tycoon city new york more building