
After its recent sale for a piddling $80 million to developer Joseph Chetrit, the legendary Hotel Chelsea


The iconic 10-story Queen Anne red brick building at 23rd Street between Seventh & Eighth Avenues opened in 1881 as a coop. It transitioned into a hotel in 1905, maintaining scores of full-time occupants, along with its standing as an historic centerpiece of art, music, writing, photography and overall New York culture. In the 1950s-1960s, it housed such luminaries as Bob Dylan, Janis Joplin, Patti Smith, Leonard Cohen, Arthur Miller and Sid Vicious.
New owner Chetrit insists he will maintain the Chelsea as an inn, though potentially prohibitive costs—including an overall of all plumbing, ventilation and electrical—may change that. An architect working on the project assured The New York Times that the destination's charm would be preserved. One positive variable: The building is landmarked, so there's no danger of it

Residents in the Times article say the hotel’s character shifted irrevocably after former manager and part-owner Stanley Bard was ousted by the hotel’s board four years ago. He had acted as curator, deciding who got to stay and how much they paid. Hotel occupancy and room rates have suffered since, with celebrities and artists replaced by budget tourists.

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