Sahara Group, the owner of a large real estate sector in new York, looking for buyers. It turns out that a long history with the sale of the Plaza Hotel is not over yet.
For many years the hotel had many owners, including the Hilton clan and the current President of Donald trump. The company El-Ad bought it in 2004 and spent the reconstruction of more than 100 rooms, turning them into truly luxurious accommodation. In 2012, the Sahara Group has acquired a controlling stake in the company, evaluating the hotel at about 575 million dollars. After some time, they faced great difficulties associated with debts on loans. The President of the company of Subrata Roy went to jail and he was released, according to Curbed, «parole» until 2016, when the company began to attempt to sell the property to pay the debt. However, no deal was never concluded.
According to the Wall Street Journal, today the hotel price could be around $ 560 million – far less than the amount paid by the company. But even that does not attract buyers. How much more Plaza Hotel will be on the market is not known.
