Hotel Transaction Manhattan

A Dubai Investor Has Bought New York's Famed Plaza Hotel for $600M - - Luxurylaunches

Excerpt from Luxurylaunches

According to reports, the hotel is set to sell on June 25 to Shahal Khan and Kamran Hakim. Khan is the founder of Dubai-based White City Ventures, while Hakim founded the NYC based real estate company the Hakim Organization.

The duo have agreed to buy the hotel for $600 million with $415 million of the funds coming from a loan offered by British billionaires David and Simon Reuben. While representatives of the Reubens declined to comment, Khan offered this, “We worked for three and a half years to get to this stage and can’t wait until it’s closed.” He would not reveal any more about the sale.

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