New York's landmark Plaza Hotel ready to sell for $600 million
![The Plaza Hotel.](https://cdn.mos.cms.futurecdn.net/c8pXrp2STUCjyjeAketEqA-415-80.jpg)
New York's iconic Plaza Hotel has two new faces on the top floor.
Kamran Hakim, a major New York City landlord, and Shahal Khan, founder of a Dubai-based venture firm, have reached a $600 million deal to buy a majority stake in the hotel. The deal should close June 25, The New York Times reports.
Talks of new ownership started four years ago, but stalled until the Plaza's current owners hired a brokerage firm in April 2017, per Bloomberg.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
The Plaza is the only hotel on the National Register of Historic Places, per the Times, and has made dozens of pop culture cameos. In Home Alone 2: Lost in New York, Kevin McAllister asked a pre-presidential Donald Trump for directions to the majestic hotel's lobby.
Trump even owned the Plaza once, but lost it to bankruptcy in 1995, says the Times. The buyer, Saudi Prince Alwaleed bin Talal, still owns 25 percent of the hotel.
No word on the status of Eloise's penthouse living situation.
Create an account with the same email registered to your subscription to unlock access.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Kathryn is a graduate of Syracuse University, with degrees in magazine journalism and information technology, along with hours to earn another degree after working at SU's independent paper The Daily Orange. She's currently recovering from a horse addiction while living in New York City, and likes to share her extremely dry sense of humor on Twitter.
-
Ukraine's Olympians: going for gold in the line of fire
Under the Radar Hundreds of the country's athletes have died in battle, while those who remain deal with the psychological toll of war and prospect of Russian competitors
By Harriet Marsden, The Week UK Published
-
'Democrats now have a chance to present a vigorous, compelling case'
Instant Opinion Opinion, comment and editorials of the day
By Justin Klawans, The Week US Published
-
What has Kamala Harris done as vice president?
In Depth It's not uncommon for the second-in-command to struggle to prove themselves in a role largely defined by behind-the-scenes work
By Theara Coleman, The Week US Published
-
Empty-nest boomers aren't selling their big homes
Speed Read Most Americans 60 and older do not intend to move, according to a recent survey
By Peter Weber, The Week US Published
-
Brazil accuses Musk of 'disinformation campaign'
Speed Read A Brazilian Supreme Court judge has opened an inquiry into Elon Musk and X
By Rafi Schwartz, The Week US Published
-
Disney board fends off Peltz infiltration bid
Speed Read Disney CEO Bob Iger has defeated activist investor Nelson Peltz in a contentious proxy battle
By Rafi Schwartz, The Week US Published
-
Disney and DeSantis reach detente
Speed Read The Florida governor and Disney settle a yearslong litigation over control of the tourism district
By Peter Weber, The Week US Published
-
Visa and Mastercard agree to lower swipe fees
Speed Read The companies will cap the fees they charge businesses when customers use their credit cards
By Peter Weber, The Week US Published
-
Reddit IPO values social media site at $6.4 billion
Speed Read The company makes its public debut on the New York Stock Exchange
By Peter Weber, The Week US Published
-
Housing costs: the root of US economic malaise?
speed read Many voters are troubled by the housing affordability crisis
By Peter Weber, The Week US Published
-
Feds cap credit card late fees at $8
speed read The Consumer Financial Protection Bureau finalized a rule to save households an estimated $10 billion a year
By Peter Weber, The Week US Published