Group of hoteliers closes on $250M purchase of Hotel Chelsea

A group of hoteliers has purchased the famed Hotel Chelsea for $250 million. The joint venture includes BD Hotels’ Richard Born, Ira Drukier and frequent collaborator Sean MacPherson, representatives for the new owners announced Monday. The group plans to redevelop the property as a hotel and condominiums. The ownership entity, SIR Chelsea LLC, is likely an acronym for the new owners’ first names: Sean, Ira and Richard. BD Hotels took over renovations this past summer. … [more]

Source: Real Estate

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