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Schrager Speaks: No Ricky Martin Discount, Chelsea Up Next

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We had heard rumblings of a crapload of new hotels coming to Chelsea, but it turns out we should've also been looking a little bit further west. In his Q&A for Portfolio with Lloyd Grove, Ian Schrager spills the beans on his neighborhood takeover, as well as a few other things:

1) On 50 Gramercy Park North and 40 Bond: "We recently sold out at 50 Gramercy Park North, which is a residential project adjacent to the hotel. And we have two units left at 40 Bond. I think we set a record price per square foot at both projects."
2) On the alleged Ricky Martin 40 Bond discount: "I think it wound up at $2,700 or $2,800 a foot. And so, to me, when you have the business model that we have—with 28 units—we really can't give anyone any kind of accommodation. They sort of pay whatever the ask price is."
3) On his next hotels: "And not for public consumption yet [Ed.?oops!], but we're very close to doing a deal for multiple hotels on 10th Avenue in Chelsea."
4) On his 40 Bond penthouse: "I really didn't have any time to devote to it. I'm working on it now. It will be another year and a half. "

It's strange to say, but Schrager's a little late to hop on the West Chelsea bandwagon. Still, the starchitecture tourists are going to need their posh hotel suites.
· World According to Ian Schrager [Portfolio]
· Inside 40 Bond: The Jeff Hyland Story [Curbed]
· 40 Bond Window Watch: A Touch of Class [Curbed]

40 Bond Street

40 Bond Street, New York, NY 10012 Visit Website