The Plaza’s Broker: Some Are Just Looking for Eloise

Elizabeth Stribling is the president of Stribling & Associates. Her career in real estate has spanned 35 years, and most recently, she has become the exclusive sales agent for the Plaza Hotel. She spoke this week with The New York Sun’s Maura Yates about the new trend in hotel conversions.Q: How do hotel-conversion apartments differ from cooperatives and condos?A: With hotel conversions, you have to create a kitchen that probably never existed. Also, in the case of the Plaza, you have proportions and grandeur that are just legendary. It’s something so exceptional with its history and ambience. The condos will be designed to restore it to its splendor.What are some of the amenities offered in hotels that have been converted?These condominium apartments will be beautiful luxury condos overlooking Central Park. At the Plaza, it is envisioned that buyers will be able to utilize the hotel component, so you can have your cake and eat it, too.How do the monthly charges differ from other apartments?At the Plaza, you only pay for your condominium charges. Any hotel services that you use will be optional and up to you. You only pay for what you use, so it’s an ideal situation.What is the profile of a hotel-conversion buyer?People from the Midwest, people from South America, people just looking for Eloise. I don’t think anyone who visits the city hasn’t wanted to take a carriage ride past the Plaza or have tea in the Palm Court. The Plaza will attract local and national buyers and people from all over the world who want to own a piece of their special memory.How much interest has there been from potential buyers?There has been an enormous amount of interest. We have gotten calls from all over the world. Television stations from Brazil want to send their cameras over. The appeal of the Plaza has been far more widespread than we could ever have imagined.How do you feel about the opposition to the conversion of the Plaza?The unfortunate reality is that some hotel union employees will be temporarily losing their jobs, and the developer is very sympathetic to that. But the creation of the condominiums and the rest of the splendor of the Plaza will be a great enhancement to this city.If you were advising a young couple looking to buy their first home in the city, where would you suggest they look?Strangely enough, you can probably get the most bang for your buck on the Upper East Side in the far East 80s and 90s, around Second, First, and York avenues. There you can find affordable studios to rent and, interestingly, large family apartments. The Upper East Side was thought to be tony, but as downtown areas like Chelsea and TriBeCa have become so cutting-edge chic, the perhaps quieter far East Side will get you the most value.Also, Murray Hill is shooting up, as more young couples are moving in, buying the apartment next door, and doing combo units. It’s a very popular neighborhood with young couples. I couldn’t have said that four years ago.

The Plaza’s Broker: Some Are Just Looking for Eloise

The Plaza’s Broker: Some Are Just Looking for Eloise

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