NEW YORK CITY-The buyer of Hotel Chelsea, a 12-floor structure on West 23rd Street, has been disclosed. Joseph Chetrit, a real estate investor in New York, has agreed to purchase Hotel Chelsea for more than $80 million.
Chetrit will keep the property as a hotel. He has plans to upgrade as well as modernize the hotel. The hotel is currently controlled by an ownership group headed by three Hungarian families who acquired the property in 1946.For the full story, go to Wall Street Journal.
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