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Those crafty Israelis who now own the Plaza announced specifc plans for the landmark hotel yesterday, according to a report in the Times:

At a public hearing before the Landmarks Preservation Commission yesterday, Elad Properties, the new owner, revealed that in addition to a 350-room hotel and about 180 condominium apartments, it planned rooftop apartments and about 39,000 square feet of luxury stores underground. The hotel previously had 800 rooms.

Preservation groups and neighbors are predictably upset, particularly at the notion of a shopping area in a basement space formerly used to warehouse kitchen supplies. "Underground," sniffed one opponent, "is not usually where the Fifth Avenue shopper normally goes."

Meanwhile, across the country, a lone tear rolls down the pedigreed cheek of L.A. Weekly hellcat Nikki Finke.

Plaza Owner Details Plans for Penthouses and Stores [NYT]
Earlier: Nikki Finke Remembers: What Ever Happened to Baby Eloise?