It appears that even New York’s iconic Plaza Hotel is being forced into a discount sale.
As The Post first reported, it took 11 years for fashion designer Tommy Hilfiger to sell his 5,600-square-foot Plaza duplex penthouse. Originally on the market for $80 million, Hilfiger, we’re told, finally accepted $33.25 million from Terry Taylor, America’s largest private owner of auto dealerships. While Taylor is known as a savvy investor and a tough businessman, real estate sources say the cut-price sale is a devastating indicator of how the once most-celebrated hotel in America — the home of Eloise and the location for Michael Douglas’ lavish wedding to Catherine Zeta-Jones — has struggled under complicated ownership.
President Donald Trump bought the Plaza in 1988 for $390 million, but sold it at an $83 million loss to investors, including Saudi Prince al-Waleed bin Talal, as part of bankruptcy proceedings. A fund owned by the government of Qatar then purchased the Central Park icon in a $600 million deal last year.
Sources said the NYC real estate market has turned the focus on the modern high rises in the area, focusing buyers away from historic properties. Plus, the current owners of the Plaza had promised to bring in luxury brands like Chanel and five-star restaurants, which hasn’t happened.
Sources said Hilfiger had earlier rejected offers to sell the penthouse for more than double his current sale price, because they didn’t work out. We’re told Hilfiger sold the apartment because he and wife Dee Ocleppo spend most of their time at their homes in Miami, Connecticut and Mustique.
The sprawling apartment features a domed tea room with an original hand-painted mirror by Hilary Knight (illustrator of the Eloise books), a terrace overlooking Central Park and four bedrooms with different themes. Hilfiger didn’t comment.
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