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Schrager's Astor Hotel a No-Go

February 1, 2002, 12:00 AM EST

It was a big question mark from the beginning, and now it looks like Ian Schrager's plans for a brand new hotel on Astor Place has been scrapped. New York magazine reported that Cooper Union, the owner of the hotel's proposed location, is now accepting bids to lease the land, after refusing to renegotiate the lease with Schrager. If Astor doesn't work out, the hotelier now plans to collaborate with Frank Gehry on a new hotel on Bond Street.

Posted 02.01.02

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