Hotel Chelsea tenants fear eviction

January 20, 2011 12:00PM

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]