News
JIMI & JANIS SLEPT HERE
August 4, 2011
| Hotel Chelsea—the landmark hotel known for notable residents and guests like Bob Dylan, Janis Joplin, Jimi Hendrix, Eugene O’Neill, Sir Arthur C. Clarke, and Allen Ginsburg—is getting a makeover, thanks to $85M in acquisition and renovation financing. |
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| Paintings by Stuart Hampton & Patrick Pearse |
| Meridian Capital Group’s Ronnie Levine and Aaron Birnbaum negotiated the loan on behalf of the Chetrit Group and Clipper Equities for the purchase and repositioning of the iconic hotel through Natixis (36-month, balance-sheet loan with LIBOR-based rate and 12-month extension option). The Chetrit and Clipper teams plan to upgrade the 176k SF hotel to the quality and aesthetics of other boutique hotels in the area (while keeping the vibe visitors love). Chetrit also owns the Empire Hotel, which underwent a similar renovation. Fun fact: Hotel Chelsea was the tallest building in New York until 1899. |
