clock menu more-arrow no yes mobile

Filed under:

Mega Sales of the Future?

The crown jewel of hotelier André Balazs portfolio, the Standard Hotel in the Meatpacking District, may be under new ownership in the not-so-distant future. Dune Capital Management and Greenfield Partners control a majority stake in the property, and they are exploring a sale of all or part of their share, which could fetch up to $300 million. It's not clear if this could affect Balazs's management, but experts say that the famed hotelier adds a lot of value to the sale, so it's doubtful that new owners would try to oust him. [Crain's]