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Rumormonger: Chelsea Hotel for Sale, Asking $90 Million?!

Tantalizing, unverified gossip! The Chelsea Hotel is for sale, with an asking price of $90 million. Broker Nigel Shamash of NSNYRE supplies the commentary: "A link got sent to a few of us broker/principals, hardly a flyer or presentation—there has probably not been one made yet. If you wanted me to tell you how credible it is, I would put it at 90%. Whether the sellers are motivated to move or just feeling the market is anyone's guess. But i think with this commercial market, the building will change hands and will be revamped—probably to a higher-end hotel."

All of this begs the question of why, say, André Balazs might be getting involved with management if the owners just want to sell, so we're guessing this news, if true, is more of a market-feeling move than liquidation. In any case, whoa.
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