Residents at the Plaza Hotel are getting nimbler in their effort to sell homes at the historic Manhattan building.
Take units 601 and 602, for example, which hit the market on Monday as an opportunity to combine the adjacent apartments for $16 million. The combination-sale opportunity came about after Corcoran agent Charlie Attias, seeing a greater demand for large units in the building, approached his client’s neighbor and asked if he’d be interested in selling, too.
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"Lately, we’ve had requests for larger apartments, but there are no more very large units left," particularly at that price point, Mr. Attias said.
The units are also selling separately. The one bedroom, which sold for $3 million in 2015, is available for $4.85 million; and the three-bedroom, which last sold for $9.3 million in 2009, is asking $11.5 million.
At $16 million, the 3,800-square-foot spread is selling for roughly $4,200 per square foot—reasonable compared to other large unitslisted in the building. Tommy Hilfiger, who’s been trying to unload his lavish penthouse on and off for nearly a decade, hasthe homepriced at more than $8,200 per square foot.It's selling for a total of $50 million.
A three-bedroom unit on the fifth floor is also priced at over $8,000 a square foot. It’s been listed since February, now askingr $34.5 million, according to listing records.
It’s not the first time Mr. Attias has pooled neighboring units at the Plaza to lure in bigger fish. In 2015, he listed three 11th-floor units with two different owners, though ultimately a buyer snapped up only two of the three units for a combined $18.5 million, property records show.
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The latest combo listings are on the sixth floor where, owing to the building’s 100-year-old design, apartments have higher ceilings than the penthouses at the top. They soar 12 feet high broken up by massive windows overlooking the top of Central Park.
Combined, the two units would create a six-bedroom, six-bathroom corner unit with marble bathrooms and a mosaic floor replicating one in the original Plaza lobby, according to the listing.
Units at the Plaza have struggled to gain the same level of price appreciation as other buildings along Central Park, despite the hotel’s iconic status in the city.
On average, the building is still selling at around the same price per square foot—around $3,500—that it did when it underwent a condo conversion in 2007-2008.