Hotel Chelsea in contract for over $80M

New York /
Apr.April 06, 2011 09:22 AM

Possible contenders Ian Schrager (top) and Andre Balazs with the Hotel ChelseaA mystery buyer has agreed to buy the Hotel Chelsea for more than $80 million, triumphing over a pool of luminaries that for months have fueled intense speculation about the future of the landmark West 23rd Street property, Eastdil Secured broker Douglas Harmon confirmed to the Wall Street Journal. But the speculation doesn’t end here. Previously reported front-runners for the takeover of the legendary hotel included hoteliers Ian Schrager and Andre Balazs, former manager Stanley Bard and Tristar Capital’s David Edelstein. (On Monday, a tenant-written blog reported that Edelstein had emerged the victor, which a hotel spokesperson quickly denied). Today, the rumor mill churned out a few fresh names, including Aby Rosen, pop singer Marc Anthony and Google, but the Journal suggests that the buyer could be a dark horse bidder not previously thrown out in media reports. “There was a frenzy of interest for the hotel,” Harmon said. “We even had people bidding through a surrogate like it was a high-end art auction.” [WSJ]


Related Articles

arrow_forward_ios
Harbor Group International's Jordan Slone with with 51 West 52nd Street
TRD Pro: Top office sales of the past year
TRD Pro: Top office sales of the past year
A photo illustration of Danny Meyer and the Maialino at the Gramercy Park Hotel (Getty, Google Maps, Maialino)
Judge to Solil: Hands off Danny Meyer’s Maialino
Judge to Solil: Hands off Danny Meyer’s Maialino
Quintin Primo (Photos by Matthew Gilson)
Meet Quintin Primo, the man who brought Chicago’s Google deal together
Meet Quintin Primo, the man who brought Chicago’s Google deal together
From left: Jane Goldman and Danny Meyer (Photo Illustration by Steven Dilakian for The Real Deal with Getty and Solil Management)
Danny Meyer’s Gramercy Park Hotel restaurant sues Solil
Danny Meyer’s Gramercy Park Hotel restaurant sues Solil
Ira Drukier with the Hotel Chelsea (Illustration by Kevin Cifuentes for The Real Deal with Getty Images, Patrick McMullan/Getty)
Hotel Chelsea owners score win in legal fight against city
Hotel Chelsea owners score win in legal fight against city
From left: Cushman & Wakefield’s Doug Harmon and Adam Spies; American Express CEO Stephen Squeri; and 200 Vesey Street (Getty Images, Cushman & Wakefield, Brookfield Properties, Manhattan College)
American Express to explore headquarters sale, move
American Express to explore headquarters sale, move
From left: RFR Holdings' Aby Rosen and Blue Owl Capital's Doug Ostrover along with 3 World Trade Center (left), the Seagram building (middle) and 340 Madison Avenue (right) (Getty Images, Blue Owl Capital, Beyond My Ken, CC BY-SA 4.0 - via Wikimedia Commons)
Trio of office leases boost hopes at Class A buildings
Trio of office leases boost hopes at Class A buildings
Google CEO Sundar Pichai and 550 Washington Street (Illustration by The Real Deal with Getty, 550 Washington Street via COOKFOX Architects)
Google boss says he’s a believer in NYC offices
Google boss says he’s a believer in NYC offices
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...