Renovated Plaza Doesn’t Please

Manhattan’s famous Plaza Hotel was formerly one of New York’s grand inns for the well-heeled. As a semi-converted co-op though, it reportedly leaves much to be desired. An estimated 50% of the new co-op owners are so dissatisfied with their properties that they’re putting them back on the market. More may follow. As the story goes, many apartments were purchased sight unseen. Promised improvements were never made. Additionally, the quality of the renovation work that was completed is in question. In case you’re interested, prices range from $1.8 million to $50 million for the ritzy city residences. Caveat emptor.