New York's famous Plaza Hotel is set to go on sale in an auction next month and experts believe that the five-star hotel could sell for more than $1billion. Billionaire brothers David and Simon Reuben hold the mortgage for the storied five-star hotel and scheduled a foreclosure auction for April 26. The auction was prompted after the hotel's 75 per cent owner Sahara India Pariwar — whose chairman went to prison in 2014 for defrauding investors — defaulted on loan agreements... < snip > Foreign investors are pouring capital into New York hotels at a historic rate. Much of the...