Like the Plaza, the august Stanhope hotel in New York is being turned into luxury homes. The 26 apartments at the Stanhope start at $10 million and go up to $47 million. The Stanhope sits opposite the Metropolitan Museum of Art and the residences offer an impressive amount of square footage (resulting in impressive prices). The units come with 150-year land-leases making it a co-op with condominium rules, a bit of a find for New York. The residences are being designed by architect John Simpson who is famous for adding to Buckingham Palace. The comprehensive article in the New York Observer says that one person may be interested in taking over two full floors for $60 million which would be 16 bedrooms of luxury and the new New York City record.