Former Hotel Chelsea manager buys on Fifth Avenue

New York /
Jan.January 10, 2012 01:30 PM

Former owner/manager of the Hotel Chelsea, Stanley Bard, must’ve gotten more than art from developer Joseph Chetrit for the iconic lodge. Bard and his wife, Phyllis, closed on an Upper East Side apartment for $4.7 million yesterday, the New York Observer reported. The apartment is at 1001 Fifth Avenue, at 82nd Street.

Bard was the hotel’s noted manager during the 1970s, when he frequently accepted art for rent and welcomed figures such as Patti Smith, Iggy Pop, Charles Bukowski and Bob Dylan into the building.

A partnership between Bard and two others owned the hotel, at 23rd Street, until 2011, when Chetrit bought it for $80 million. Since the sale the residents have scuffled with non-union construction crews performing renovations in the building and pursued legal action against the new owner. Most recently, Chetrit moved to evict 10 tenants he claims are not protected by rent-stabilization, as well as those withholding rent due to what they claim are the hazardous conditions in the building created by the ongoing construction. [NYO]


Related Articles

arrow_forward_ios
Joseph Chetrit and 260 East 72nd Street (Getty Images, Google Maps)
Chetrit plans Upper East Side condo development
Chetrit plans Upper East Side condo development
From left: Councilmember Christopher Marte, Gary Barnett, JDS Developmentā€™s Michael Stern, Joseph Chetrit and a rendering of Two Bridges (Getty)
Another lawsuit looks to stop Two Bridges developments
Another lawsuit looks to stop Two Bridges developments
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
The Chetrit Group's Joseph Chetrit and Park West Village on the Upper West Side (Getty Images, Google Maps)
Chetrit, Stellar land $365M refi for UWS luxury apartment complex
Chetrit, Stellar land $365M refi for UWS luxury apartment complex
Joe Chetrit with Empire Hotel (Empire Hotel)
Chetrit secures lifeline at Empire Hotel
Chetrit secures lifeline at Empire Hotel
Joseph Chetrit: The man from Morocco
Joseph Chetrit: The man from Morocco
Joseph Chetrit: The man from Morocco
Joseph Chetrit in front of 260 South Street (Chetrit Group, CityRealty, iStock)
Chetrit seals the deal on Two Bridges site
Chetrit seals the deal on Two Bridges site
Richard Born, partner, BD Partners, in front of Hotel Chelsea at 222 West 23rd Street (BD Partners, iStock/Photo Illustration by Steven Dilakian for The Real Deal)
Hotel Chelsea quietly reopens after renovation delays
Hotel Chelsea quietly reopens after renovation delays
arrow_forward_ios

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

Loading...