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Patriots owner Robert Kraft sacks $22M Plaza Hotel condo
Sale comes as Kraft kicks over to Billionaires’ Row
A photo illustration of New England Patriots owner Robert Kraft and the Plaza Hotel (Getty, Google Maps)
New England Patriots owner Robert Kraft is splitting up with another icon: the Plaza Hotel.
Kraft sold his unit at the Midtown Manhattan property for $22.5 million, the Wall Street Journal reported. Much of the deal’s specifics — including the price per square foot — were not immediately clear in the off-market deal.
Kraft purchased his property in 2007 for $14.7 million, when the Plaza was in the midst of its partial conversion into condominiums. It’s unclear who purchased his unit.
Kraft toured the building when the condo conversion was still under construction, according to “The Plaza: The Secret Life of America’s Most Famous Hotel” by Julie Satow. Kraft supposedly felt a “nostalgic connection” to the place.
Other owners at the Plaza Hotel have included Tommy Hilfiger and developer Christian Candy. In October, Unit 1109 sold for $65.8 million, marking one of the most expensive residential deals of the year in New York City.
It didn’t work out when Kraft traded out Tom Brady for Mac Jones at quarterback and it remains to be seen if installing Jerod Mayo as coach after Bill Belichick will work out. But Kraft is betting on a sure thing in New York luxury real estate, as a pair of condos at Vornado Realty Trust’s 220 Central Park South were recently snapped up by a Kraft entity for $34 million.
He’s got other properties to fall back on. Towards the end of 2022, Kraft purchased a penthouse in Palm Beach for $24 million, a record at the time. Prior to that, he also purchased an estate in the Hamptons for $43 million from controversial developer Nir Meir, later getting into a dispute regarding an elevator addition. He also has a home in Chestnut Hill in Massachusetts to be close to his juggernaut NFL squad.