New Fronter

Don Olney · #1 05-16-2007, 10:04 AM

Sold for 1. something billion to a group based in Israel.

The count down starts for implosion.

BOOOOM

playersare · #2 05-16-2007, 10:11 AM

http://biz.yahoo.com/ap/070516/elad_...laza.html?.v=1

the guys who own the Plaza hotel here in NYC. class act.

Don Olney · #3 05-16-2007, 10:26 AM

Good deal.
Thanks for getting the link.

*TT* · #4 05-16-2007, 10:50 AM

Disappointing. Trump had a deal on the table, and word on the street was that Trump was using it as leverage in his AC deal with Wynn, it would have been amazing if that property went to Steve Wynn.

*TT* · #5 05-16-2007, 12:44 PM

From LV Adviser -

Rumors earlier this year that the New Frontier would be sold to Israli-owned El Ad Properties have come to fruition. El Ad will reportedly purchase the 36-acre resort for $1.2 billion, setting the price-per-acre at more than $33 million. The new owners intend to demolish the existing buildings and erect a new resort themed on New York City's Plaza Hotel. Seven adjoining acres that house the Trump Towers were not included in the deal.

Very interesting that the Palace and Trump buildings are adjacent, these two groups partner together on projects in NYC as well. This might become a powerful little area of super luxury in Vegas.