Rumormonger: Chelsea Hotel for Sale, Asking $90 Million?!

Friday, August 10, 2007, by Lockhart

Tantalizing, unverified gossip! The Chelsea Hotel is for sale, with an asking price of $90 million. Broker Nigel Shamash of NSNYRE supplies the commentary: "A link got sent to a few of us broker/principals, hardly a flyer or presentation—there has probably not been one made yet. If you wanted me to tell you how credible it is, I would put it at 90%. Whether the sellers are motivated to move or just feeling the market is anyone's guess. But i think with this commercial market, the building will change hands and will be revamped—probably to a higher-end hotel."

All of this begs the question of why, say, André Balazs might be getting involved with management if the owners just want to sell, so we're guessing this news, if true, is more of a market-feeling move than liquidation. In any case, whoa.
· Hotel Chelsea Fallout: Ethan Hawke Arrives, Naps [Curbed]

Filed under Hotels, Manhattan: Chelsea, Chelsea Hotel

Email this post to a friend

Comments feed for this post

Comments (16 extant)

Buy-bye Sparkle Hayter, Susanne Bartsch, Philip Taffee, and all you stupid 'Living With Legends' Chelsea Hotel bloggers....

Buh-bye!

By chicareena at August 10, 2007 3:32 PM

Something smells - anyone else smell that?

By BingsTesticle at August 10, 2007 3:32 PM

Oops! Sorry about the smell, everyone. I'll just cross my legs now.

By Bing at August 10, 2007 3:40 PM

A little reno and it would make a lovely single family home.

By Larry at August 10, 2007 3:56 PM

For what some of those pads are going for in the plaza if you were smart money you buy yourself your own damn hotel - take up a floor and the rest is income. Cha-Ching.

Anyone have $90 mill they would like to loan me?

By Anonymous at August 10, 2007 4:08 PM

It's name is "The Hotel Chelsea."

By Anonymous at August 10, 2007 4:20 PM

I thought it was "The Hotel formerly known as Chelsea"

who gives a F@$k

By Anonymous at August 10, 2007 4:34 PM

Why not... New York's losing its character left and right. This just keeps the trend going. Maybe they can get a Wakovia to open on the ground floor.

By Rich at August 10, 2007 7:30 PM

There needs to be more Wachovias and less of everything else.

also, Some people pay 100 million dollars for pieces of art. APPLE STORE CHELSEA!!

By Anonymous at August 10, 2007 8:32 PM

10.

NY is dead.

By Gen at August 10, 2007 8:57 PM

11.

$90 mil? Thats a steal. no really.

By Anonymous at August 10, 2007 9:17 PM

12.

This is a great place to get a cheap hooker... I banged this dumpy little blond bitch for $200...They should make it the first legal multi unit whorehouse.. 90- Million, let the russian mob in on it.

By Tommy Piscatelli at August 11, 2007 12:28 AM

13.

90 million is a serious steal.

Its huge and you could make it your own personal kick ass party pad in the middle of nyc.

Some Saudi price is going to buy this.

By nick at August 11, 2007 8:45 AM

14.

Yer all a bunch a Wankers !

By Sid V. at August 11, 2007 12:46 PM

15.

90 mill 200 bucks??? cheap!?

By anon at August 12, 2007 1:15 AM

16.

I am a very experienced hotel broker, i have sold many brand name properties all over the united states, based out of New York. 90M i think is a fair price, i just sold another property for 91M... when you have a huge buyer, they move on these transactions fast! good luck everyone, krodgers@bridgebrokers.com...if you are looking to purchase a hotel

By Kieran Rodgers at October 18, 2007 2:55 PM