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New York's Plaza Hotel Has Third Suitor Join Battle for Control

  • United Capital sues owner Roy, seeking $1 billion in damages
  • Newest twist in sale of iconic site once owned by Trump
The Plaza Hotel
The Plaza Hotel Photographer: Michael Nagle/Bloomberg

The storied New York Plaza hotel’s ownership drama has taken another turn. United Capital Real Estate Development Corp. has emerged as a third suitor for the property, according to court filings.

United Capital Real Estate is suing Subrata Roy, chairman of Sahara India Pariwar, as well as its U.S. entity, the property’s majority owner, alleging that they breached an agreement by seeking a separate deal, and fraudulently induced United to enter into contracts, show proof of funds and place money in escrow, according to a complaint filed in New York state court on June 22.