How a water-skiing accident made André Balazs rethink his hotel empire

Amid a search for "tranquility," the hotelier decided to make some big changes

New York Weekend Edition /
Oct.October 07, 2017 02:54 PM

After a water-skiing accident that took the hotelier off his feet for six weeks, André Balazs decided to make some changes.

He sold off his 20 percent stake in Standard International along with his stake in the Standard Hotel. As TRD reported, the $340 million sale of the hotel is slated to become New York’s largest single-asset hotel deals of 2017.

Though Balazs began extricating himself from the projects years ago, the final parting of ways came this summer, weeks after his third son was born, while he was bedridden with leg lifted precisely 24 inches above his heart, according to the New York Post.

“In order to find the tranquility and personal interaction I need at this time of physical healing, I would appreciate it if you e-mail only documents you believe I must review,” he informed associates via emails according to the Post.

Balazs’ boutique hotel portfolio now spans the Mercer in Soho, Sunset Beach on Shelter Island (where his water-skiing accident occurred), LA’s Chateau Marmont, and London’s Chiltern Firehouse.

[New York Post] — E.K. Hudson


Related Articles

arrow_forward_ios
With a cooling trade war, stocks perform well, including real estate. (Credit: iStock)
Real estate stocks push up this week as U.S.-China trade tensions ease
Real estate stocks push up this week as U.S.-China trade tensions ease
416 West 25th Street and Maverick Real Estate Partners principal David Aviram (Credit: Google Maps and LinkedIn)
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Chelsea landlord claims “predatory” lender is charging a crippling interest rate as punishment after losing foreclosure case
Dave Grutman and Jeffrey Soffer
WATCH: Jeffrey Soffer and Dave Grutman talk hospitality post-Covid and branching into Vegas
WATCH: Jeffrey Soffer and Dave Grutman talk hospitality post-Covid and branching into Vegas
 Jeff Sutton of Wharton Properties, 25 West 34th Street in NYC (Google Maps)
Jeff Sutton’s Midtown hotel project snags Sonder as first tenant
Jeff Sutton’s Midtown hotel project snags Sonder as first tenant
NYC hotels hoping for holiday business swell likely to be disappointed
NYC hotels hoping for holiday business swell likely to be disappointed
NYC hotels hoping for holiday business swell likely to be disappointed
Clockwise from top left: 2875 Morningside Heights, 38-21 12th Street in Long Island City, 46 Nevins Street in Brooklyn (Google Maps)
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Investors flip NYC industrial, hotel, office buildings in pre-holiday frenzy
Brookfield weighs $1.5B hotel portfolio sale
Brookfield weighs $1.5B hotel portfolio sale
Brookfield weighs $1.5B hotel portfolio sale
Broad Street Development, Invesco refi 80 Broad for $150M
Broad Street Development, Invesco refi 80 Broad for $150M
Broad Street Development, Invesco refi 80 Broad for $150M
arrow_forward_ios

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

Loading...