The building that Donald Trump famously called his “Mona Lisa” when he bought it in 1988 has finally opened its condo hotel sales. After closing in April 2005 for $400 million of renovation, and recently selling private residences for as much as $50 million, Fairmont Hotels and Resorts is now accepting registrations and sales inquiries.

The Plaza Pied-à-Terre will feature 152 condo hotel units starting at $1.5 million. Suites come in five styles, including a duplex with private terrace, with luxuries you’d expect, such as 24-karat gold faucets and accessories, and some you might not expect, such as wireless touch-screen access to 24-hour concierge services. All in all, it’s a pretty unique opportunity to buy property at a world famous address and a historical landmark (without the historical preservation compliance issues) managed by a trusted brand.

Beyond a sign of how far the acceptance and application of the condo hotel model has expanded, this launch is part of a broader strategy for the developer. The El Ad Group plans to expand the Plaza brand with luxury projects in marquee locations around the world. The Plaza is set to reopen this October in celebration of the hotel’s 100th anniversary.

Source: www.heliumreport.com