A tipster points out that yesterday, January 20, marked the 130th anniversary of the unveiling of the Hotel Chelsea. the project was announced to the world with this entry in the Real Estate Record and Guide on that date in 1883: "A building, 12-story brick, with brownstone trimmings, flat for 40 families, 175 x 86, mansard, brick, and news patent roof, cost $300,000; owner George M. Smith." The first owners had a pretty positive financial outlook, too, according to a later article in the same publication. "The owners of the various apartments do not think that running expenses will cost them anything, as the stores on the ground floor & the two upper stories are retained for tenants, so as to bring in an income." Ah, 'twas a much simpler time.
· Hotel Chelsea coverage [Curbed]