Hotel Chelsea is Up For Sale

Colros/Flickr Creative Commons 2.0

The Hotel Chelsea needs a new owner.

The famed hotel, which has been home-base to some of the 20th Century's most famed artists, writers and musicians, is up for sale by its current owners, led by 3 Hungarian families, the Wall Street Journal reports.  The hotel is in need of modernization, and the buyers are seeking someone who can afford to do that, the newspaper said.

The 12-story West 23rd Street building includes 125 hotel rooms and about 100 rental apartments, some of which are under rent regulations. It also houses the El Quijote restaurant, a guitar shop and other retail space.

It was the city's first cooperative apartment complex when it was built.

The building's board announced its intent to sell it on Tuesday. The board says it hopes "a new owner would re-energize and revitalize the Chelsea.''

First opened in 1884, the hotel has been home and muse to artists including Leonard Cohen and Andy Warhol. It's also had some darker days -- Dylan Thomas died there in 1953 and Nancy Spungen, girlfriend of Sid Vicious, of Sex Pistol's fame, was stabbed to death in Room 100.

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