This Apartment at New York’s Plaza Hotel Has Central Park Views From Every Room | Kanebridge News
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This Apartment at New York’s Plaza Hotel Has Central Park Views From Every Room

Fri, Sep 16, 2022 8:45amGrey Clock 2 min

An apartment at New York’s iconic Plaza Hotel that comes with Central Park views from every room has hit the market for $7.95 million.

The residential unit, located on the 13th floor of the French Renaissance-style, mixed-use building on the southeast corner of the park, offers 1,825 square feet of living space with two bedrooms and two and a half bathrooms, according to the listing with Emily Beare of CORE.

“What is most compelling about the residence is every room is met with a punching view of Central Park…not every unit in the Plaza has this, making it a prime offering,” said Ms. Beare, who listed the property last week.

Designed by Piers von Westenholz, one of Britain’s renowned designers and antique furniture dealers, the home features high-end finishes and fixtures from both Europe and North America, while maintaining historic details including original Plaza doorknobs, high ceilings and refined built-ins, according to the listing.

The living room has northern exposures of Central Park and is adjacent to a chef’s kitchen, equipped with Nero Marquina stone countertops, mosaic Calacatta marble-tiled backsplash and appliances by Viking and Miele. All the bathrooms are adorned with custom marble mosaic patterned floors, the listing said.

The current owners, whose identity is shielded by a limited liability company, bought the apartment in 2010 for $9.25 million, property records show.

“They decided to list it as they’re not finding themselves spending as much time in New York City as they once used to,” Ms. Beare said.

Amenities at the Plaza Hotel—a National Historic Landmark built in 1907 by Henry J. Hardenbergh and whose notable former owners include Conrad Hilton and Donald Trump—include concierge services, a 24-hour doorman, Warren-Tricomi Salon, Caudalie Vinotherapie Spa, La Palestra Fitness Center, the Rose Club and the Grand Ballroom.

“The ideal buyer is someone who wants to live in one of the best units in a quintessential New York City historic building,” Ms. Beare said.

There are around 180 private residences in the hotel-condo building.


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RMIT expert says a conflation of factors is making the property market hard than ever to predict

By Robyn Willis
Thu, Oct 6, 2022 9:52am < 1 min

A leading property academic has described navigating the current Australian housing market ‘like steering a ship through a thick fog while trying to avoid obstacles’.

Lecturer in RMIT’s School of Property Construction and Project Management Dr Woon-Weng Wong said the combination of consecutive interest rate rises aimed at combating high inflation, higher property prices during the pandemic and cost of living pressures such as the end of the fuel excise that occurred this week made it increasingly difficult for those looking to enter or upgrade to find the right path.

“Property prices grew by approximately 25 percent over the pandemic so it’s unsurprising that much of that growth ultimately proved unsustainable and the market is now correcting itself,” Dr Wong says. “Despite the recent softening, the market is still significantly above its long-term trend and there are substantial headwinds in the coming months. Headline inflation is still red hot, and the central bank won’t back down until it reins in these spiralling prices.” 

This should be enough to give anyone considering entering the market pause, he says.

“While falling house prices may seem like an ideal situation for those looking to buy, once the high interest rates, taxes and other expenses are considered, the true costs of owning the property are much higher,” Dr Wong says. 

“People also must consider time lags in the rate hikes, which many are yet to feel to brunt of. It can take anywhere from 6 to 24 months before an initial change in interest rates eventually flows on to the rest of the economy, so current mortgage holders and prospective home buyers need to take this into account.” 


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