New Owners Plan Hotel-Condo Conversion Of 12-Story Hotel Chelsea At 222 West 23rd Street, Chelsea
SIR Chelsea LLC, a joint venture of hoteliers Richard Born, Ira Drukier, and Sean MacPherson, has closed for $250 million on the purchase of the 12-story, 58-unit mixed-use building known as Hotel Chelsea, at 222 West 23rd Street, in Chelsea. The new owners plan to redevelop the property into a boutique hotel and condominium units, The Real Deal reported. BD Hotels will serve as the developer and hotel manager. Completion is expected by 2018. The property is an individual landmark and has gone through years of redevelopment attempts.