The Plaza Hotel Is Closing for 4 Years—Here’s What That Means for Its Condo Residents

Next year, New York's iconic Plaza Hotel will close for renovations—and it's unclear what that means for the owners of its 181 luxury condo units. But the building's lead broker says he isn't worried it'll affect residents much.On Wednesday, the hotel's management company, Fairmont Hotels and Resorts, announced that the storied Central Park hotel would close starting in 2027 for a full exterior renovation. The project is expected to take around four years. "The Plaza Hotel is advancing plans for repair and restoration works to its landmark-protected façade," Fairmont said in a statement. "The undertaking reflects the complexity of maintaining a property of such architectural and historical significance, with careful consideration given to preservation requirements and the building’s long-term care, as well as the safety of our guests, employees, and the wider community."At The Plaza, where a themed suite can cost as much as $20,000 a night, guests pay a premium for the luxury and the opportunity to revel in its history. Henry Janeway Hardenbergh designed the historic French chateau-style property, built in 1907 for $12.5 million (about $400 million today). It's had numerous owners—...