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

Oct.October 07, 2017 02:54 PM

While he was bedridden with leg lifted precisely 24 inches above his heart, the hotelier made some decisions. (David Shankbone)

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

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

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

The Tel Aviv Stock Exchange (Credit: Getty Images)

All Year’s Israeli bonds tumble on $41M loss

Alex Sapir and the NoMo Soho hotel at 9 Crosby Street (Credit: NoMo SoHo)

Sapir Corp.’s stock drops in Tel Aviv

55 Hudson Yards, Facebook CEO Mark Zuckerberg (Credit: Google Maps and Getty Images)

Here’s how much Facebook is paying at Hudson Yards

Michael Shvo with 711 5th Avenue (Credit: Getty Images, and Google Maps)

Michael Shvo seeking $600M to refinance Coca-Cola Building

181 Varick Street (Credit: Google Maps)

Claremont Companies buys Soho Marriott for $59M

4650 Broadway (Credit: Google Maps)

Inwood site goes for twice what seller paid last year