The legendary Chelsea Hotel in New York is for sale

Hubert, Pirsson and Company: Hotel Chelsea, NY, 1884

New York - The legendary Chelsea Hotel in New York, which was once a haven for many famous artists due to its welcoming conditions, is up for sale. The building, where the famous Czech director Miloš Forman spent several years, urgently needs renovation. The current owners do not feel up to it and have decided to put it on the market, the American daily The Wall Street Journal (WSJ) reported.
    The hotel is owned by 15 shareholders, among whom three Hungarian families play a major role, having purchased the twelve-story building in 1946. According to WSJ, any potential new owner will likely end the long-standing tradition of the hotel allowing artists to delay payments for accommodations so they can focus on their careers. "The way we manage the hotel may not necessarily be the norm in the business world," noted one of the owners, Paul Brounstein.
    The hotel has 125 rooms and around 100 rental apartments. Some of these have regulated rent. The building began operations in 1884 and became a hotel around 1905. It still retains most of its original architectural features, including a large staircase in the lobby and black iron balconies. However, architects state that the aging lobby and hotel corridors need renovation. Its cost is estimated at millions of dollars.
    Hotel Chelsea has a rich history. In the 1960s, it was favored by movie stars, poets, and musicians. Notable residents included singer Leonard Cohen, singer Janis Joplin, and famed sci-fi writer Arthur C. Clarke, who wrote his famous book 2001: A Space Odyssey there. At one time, it was an inseparable part of the scene surrounding artist Andy Warhol. Among its residents was poet Dylan Thomas, who died there in 1953 from alcohol poisoning. In 1978, Sid Vicious of the punk band Sex Pistols allegedly stabbed his girlfriend Nancy Spungen to death there.
    However, in recent years, the hotel has only looked back on its greatest glory. A turning point was the dismissal in 2007 of long-time building manager Stanley Bard, who was its good soul and had an understanding for artists. At least part of the hotel’s board wanted it to stop being a place for bohemians and start profiting from its famous past.
    The new management of the hotel became BD Hotels, which took action against people in debt for rent. Some residents had debts exceeding 10,000 dollars and had to leave the hotel. In 2008, however, the company ceased to be the manager, and the welcoming attitude towards artists returned. The new owner, however, may have different plans for the building. According to Brounstein, for example, he could focus on younger, wealthier customers. It thus seems that one of New York's legends is likely approaching its end.