Certainly we’re all a bit apprehensive here at the [Chelsea] hotel, wondering what will happen now to our unique artistic community. The actual ownership structure of the hotel is a closely guarded secret. It is known that Stanley’s father, David, in partnership with two men named Krauss and Gross, bought the hotel in 1940. (Stanley took over upon his father’s death in 1957.) These days, the part of the hotel that Stanley’s father owned is still in the Bard family, but the interests of the other partners’ families are represented by a board of directors. The board seems to have given Stanley a wide latitude in managing the hotel over the years--that is, apparently, until just recently. What happened is that the hotel simply became too valuable.

Too bad. I came real close to living there at one point. I think possibly Stanley was under the mistaken impression that I was rich, so I could never work out the price with him. Nice run they had though. I'll always think of that place as part of the "real" New York City that I otherwise would have pretty much missed by not arriving here until '93.
- jim 6-19-2007 12:42 am [add a comment]

the new boys
- bill 6-19-2007 5:03 pm [add a comment]