Saturday, March 10, 2012

Candy gets sweet deal at The Plaza hotel

Christian Candy, the co-owner of Candy & Candy, which helped develop London’s One Hyde Park complex, has acquired a penthouse apartment at Manhattan’s The Plaza hotel (pictured) at a 31 percent discount.
According to a statement released by Candy & Candy, the 6,500 sq ft triplex, dubbed the Penthouse 2009, was acquired from New York-based developer El-Ad Properties, a unit of Elad Group, for US$25.9 million (S$32.68 million).

Manhattan real estate listing website, StreetEasy, revealed that the penthouse was first offered for sale in April for US$37.5 million (S$47.31 million). However, the seller reduced the asking price in October by 11 percent to US$33.5 million (S$42.26 million).

The triplex includes four bedrooms with park views, a 30 ft outdoor terrace, and five full bathrooms. StreetEasy noted that the penthouse also features “a breathtaking double-height, sky-lit kitchen with Poggenpohl cabinetry, top-of-the-line appliances by Miele, Wolf and Subzero, a 95 sq ft pantry/wine cellar, and a granite-topped island with integral stone sink.”

Located at 768 Fifth Ave, The Plaza, a popular destination for plutocrats and socialites, reopened in March 2008 after restoration works costing US$400 million (S$502.67 million). El-Ad Properties acquired the building for US$675 million (S$847.96 million) in 2004.

View the original article here

Source from Property Guru

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