Hotel Chelsea tenants fear eviction

New York /
Jan.January 20, 2011 12:00 PM

Ian Schrager (top), Andre Balazs and Hotel ChelseaAs hoteliers bid on the $100 million Chelsea Hotel property, residents are hoping for a merciful landlord, since half of the rooms there are rented to tenants who fear eviction by the next owner. “Everyone is very uneasy,” a resident told the Post. “We don’t know what our fate is.” Rival hoteliers Andre Balazs and Ian Schrager
have been spotted checking out the 250-room landmark at 222 West 23rd Street.
Several bids are reportedly in, but no deal has been made. “Management has already been whittling down the tenants,” according to one source. “They would go in there and get building permits to renovate the rooms and then make them hotel rooms. They aren’t giving out long-term leases.” Another source predicted that the only way to avoid a lawsuit by tenants is to offer them cash. “It’s a complicated deal,” the source said. “The building needs so much work. It’s going to cost a fortune to overhaul.” [Post]


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