Elad introduces 21st century Plaza to the world.

Members of the international media were given a sneak preview of the private residences at The Plaza Hotel last week.

Miki Naftali, president of Elad Properties, the owner of the Plaza, said the event was organized in response to the numerous enquiries from international buyers interested in owning a piece of the famed hotel.

However, he dismissed suggestions that his firm is targeting foreign buyers for the 182 private condo residences with price tags ranging from $2.5 to $33 million, saying it was only to be expected that such a fabled property would attract international attention.

Exclusive sales broker, Elizabeth Stribling, said that since the sales center's unofficial Christmas opening, around a quarter of the residences have already been sold to "mostly American" buyers.

Stribling told the foreign press corp that packed the now-open sales center located in the hotel's former Edwardian Room bar, "We know that there is going to be international demand. The Plaza is a piece of mythic history, not only for New York, but for the world."

Naftali added that those with the resources to buy a Plaza home were savoring the process as they would if buying a very special painting. "It's a once in a lifetime opportunity for them," he said. "And we are trying everything we can to give them the most luxurious product on the market."

Indeed, no expense is being spared in the $350 million transformation of the tired but still majestic hotel Elad bought from Millennium & Copthorne Hotels and Saudi Prince Alwaleed bin Talal for $675 million in 2004.

With renovations in full swing, members of the press were given a virtual tour of the restored Plaza that will offer 182 private residences, a six diamond hotel with 282 hotel rooms and suites, accurately restored public rooms and spaces, and a collection of high end boutiques, shops and destination restaurants. Of the 282 hotel rooms and suites, 152 will be hotel condos which owners use as pied a terres but which are available to the hotel as hotel rooms when the owner is out of town. Buyers of the private residences will also be able to select from a full range of the hotel's amenities and services.

Naftali told last week's press conference that Elad was currently in negotiations with a prospective hotel management company, although it has been widely reported that previous manager, Fairmont Hotels, will likely be reinstated.

And, after a very public row with the hotel union over the initial extent of the condo conversion and the cost to the union in jobs, Naftali said that was all now behind them.

"What we have put together is a very good plan, perhaps the only plan that allows us to spend the money to bring back the glory to the Plaza.

"The Plaza is one of those few elite landmarks that define what is enduring and best in our great city. We are building on its legacy while setting new standards of quality, luxury and sophistication. We are also--discretely but completely--overhauling the infrastructure, introducing state of the art systems and technology to assure purchasers, visitors and guests the highest level of comfort and convenience within the castle on the park."

The Private Residences, with their exclusive Central Park South entrance, lobby and elevators, offer unprecedented amenities and a host of exclusive finishes created specifically for The Plaza.

The residences were designed to reflect and respect the original room configuration, resulting in highly individualized layouts. Generous entrance foyers, galleries, great rooms with sweeping views, formal dining rooms and ceiling heights ranging from 9 1/2 to 14 feet give the homes imposing scale and a stateliness that recalls the Plaza's legendary past.

The 182 residences at The Plaza include one-, two- and three- bedroom units as well as four-bedroom duplex and five-bedroom triplex penthouses.

Original details and architectural nuances that vary from floor to floor or from room to room, like decorative marble fireplaces, arched windows, dormer windows and stone balustrades, make each residence unique.

Calacatta white mosaic tile was chosen for the kitchen back-splashes and the countertops will be Nero Marquina marble because these materials are intrinsic in the building. Both materials are part of the landmark's lobby decor that is being painstakingly preserved and restored.

Exclusive fixture and lighting collections, wireless amenities touch panels and custom lines of appliances from Viking incorporate state of the art technology to each of the one-of-a-kind homes.

Several of The Plaza's residences will reserve the names of their famous former residents, including the Frank Lloyd Wright Suite and the Astor Suite. The Plaza was Frank Lloyd Wright's favorite New York hotel. His eponymous suite is a corner three-bedroom, 3,547 s/f home with 11-foot ceilings and views of Central Park South and Fifth Avenue.

The Astor Suite, named for the famous family who were among the first residents of The Plaza, is a three-bedroom, 4,299 s/f residence on the fifth floor also looking out over Central Park South and Fifth Avenue. This home features 11 1/2-foot ceilings and a turreted formal dining room.

Among the most striking of the Plaza's residences are the four duplex penthouses and the stunning triplex penthouse. These residences offer dramatic double height spaces, ceiling heights ranging from 10 to 14 feet, sweeping curved staircases, luxurious master suites, terraces overlooking Central Park and atrium-style walls of floor-to-ceiling windows that extend up into the roof line, filling the residences with light.

The hotel's famous public spaces, the Palm Court, the Oak Bar and Oak Room, the Terrace Room and the Grand Ballroom and the Edwardian Room, are all being restored.

Windows will be restored to their 1907 dimensions by removing the louvers that were added to hide air-conditioners when those units were introduced. Missing large finials will be replaced on the roof, restoring the original turreted skyline designed in the style of a French chateau.

The company that made the original ceramic roof tiles will manufacture new ones that are exact replicas. Impressive wooden doors to the private residences and hotel rooms will be set off by accurately reproduced numerals and hardware. Some of the spectacular mosaic patterns found in the lobby will be re-created on the floors of the bathrooms in the private residences. Corridors will be lit by vintage Plaza chandeliers.

At the core of the new Plaza will be a private, completely renovated center courtyard. Retrieved from its "back-of-the house" functions, the courtyard facades will be restored and punctuated by Juliet balconies. The lushly landscaped private gardens will have a fountain and reflecting pool connected by a flowing water course.

In addition to the exceptional residences at The Plaza, visitors from around the world will be able to continue to enjoy the consummate New York experience in the 282-room-and-suite hotel.

The separate hotel lobby will be entered from West 58th Street, as well as through the Fifth Avenue brass and marble portal.

The restored Plaza is slated to open early in 2007, in time to celebrate its 100th anniversary.