June 24, 2016
By: Daniella Soloway
Following a canceled auction of New York’s iconic Plaza Hotel, an anonymous member of the Saudi royal family and London-based 3 Associates are in talks to buy the Manhattan property.
They are reportedly speaking to its owners, India’s Sahar Group, to acquire the Plaza for about $352 million. The prospective buyers have tapped Knight Frank to prepare a formal bid.
According to sources, the group also is looking into buying the Grosvenor House in London for $882 million, as well as New York’s Dream Downtown Hotel for $235 million.
In other Plaza Hotel news, TV financial guru Suze Orman recently sold her one-bedroom Plaza Hotel apartment for a reported $4 million.