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
Publicly traded firms now own $1.64T of US real estate
Publicly traded firms now own $1.64T of US real estate
Publicly traded firms now own $1.64T of US real estate
Google CEO Sundar Pichai and St. John’s Terminal at 500 Washington Street (Getty, COOKFOX Architects)
Google’s $2B deal spurs optimism for NYC’s pandemic-battered office market
Google’s $2B deal spurs optimism for NYC’s pandemic-battered office market
Google CEO Sundar Pichai (Getty/Illustration by Kevin Rebong for The Real Deal)
Google says it won’t claim NYC tax breaks
Google says it won’t claim NYC tax breaks
A rendering of St. John's Terminal with Google CEO Sundar Pichai (COOKFOX Architects, Getty)
Google shatters pandemic record in $2.1B office purchase
Google shatters pandemic record in $2.1B office purchase
Cushman & Wakefield's Doug Harmon and Adam Spies (Cushman, Getty)
Cushman’s top sales brokers negotiating new contract
Cushman’s top sales brokers negotiating new contract
Dr. Samantha Boardman. Inset: Aby Rosen (Getty, iStock)
Aby Rosen’s wife: “Huge amount of dread” about return to offices
Aby Rosen’s wife: “Huge amount of dread” about return to offices
André Balazs and 158 Mercer Street (Getty, Google Maps)
Developer picks up André Balazs’ Soho condo
Developer picks up André Balazs’ Soho condo
Aby Rosen and 60 East 55th Street. (Getty, Google Maps)
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
Special servicer calls for Aby Rosen’s home of Core Club to be sold at auction
arrow_forward_ios

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

Loading...