Racked sums up a Post article today:
The Post reports that under the Plaza's marble facade, there's s a 'brewing crisis': More than half the luxury retail tenants want to negotiate lower rents.
Not exactly surprising tenants are doing this all over the city. But apparently, the Plaza's owners aren't open to renegotiation. "If the brewing crisis isn't resolved within the next 90 days, the exit of a few cash-strapped tenants could spur a 'domino effect,' according to one source close to the situation. 'All you need is for one or two of them to go dark,' the source told The Post."
Yes. Not good. You know, sometimes, as hotels get older and times start to change, it's better to just shut down and bow out gracefully than to try to somehow revamp the original to sustain a property's greatness. Excuse the long-shot analogy, but this kind of reminds us of that horrendous Friends-spinoff sitcom, Joey. After an epic run, Friends shut down and then, a little while later, Joey emerged. And it was not good. Not good at all. The old Plaza was like Friends; this new Plaza is like Joey.
And Joey was canceled after two seasons.