Poor Eloise: The Plaza takes it on the chin. Why?

Yesterday’s New York Times belatedly discovered that re-sale prices at the storied Plaza Hotel have plunged.

The newspaper said that the last 11 owners to sell their luxury condos at the Plaza Hotel sold them at a loss, including the owner of Apartment 409, which sold for $8.5 million less than it cost 16 months before.  Reported the Times: Continue reading