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Plaza Update: Scary 'Foreigners' No Longer a Concern

So, how are sales going at The Plaza's residential conversion, anyhoo? Pretty well, it seems, thanks in part to this bit of glorious news as reported in today's NYT:

Elizabeth Stribling, whose real estate brokerage firm is marketing the Plaza redevelopment... also said that the profile of buyers was different from what many people had expected it would be. “So many people thought, ‘The foreigners were coming, the foreigners were coming, the foreigners were coming,’ ” she said. But the largest group of buyers so far are people from the New York area, she said.Oh sweet relief! Now that The Plaza is certified mostly foreigner-free, let's check out the cost for residence, eh? Recall that there are two ways to buy here: the hotel ("pricey!") plan, and the residence ("damn pricey!") plan. The hotel plan might seem like the better deal—residences from $1.5m, not $5m—until you hit the fine print and these rules that apply only to hotel-side owners: 1) Owners limited to 120 days of use a year; unit rented out other 245 days
2) Minimum 90-day notice for all stays
3) Sneers from the real owners across the way

Head to The Plaza's official sales site and decide for yourself. The door on the left, or the door on the right?
· A Hotel With Two Kinds of Condos: Dear, and Dearer Still [NYT]
· The Plaza Residences [theplazaresidences.com]
· The Plaza Presents: Timeshares! [Curbed]