Balazs Buys Meatpacking Property

Boutique hotelier Andre Balazs—owner of the Mercer and the Standard and Chateau Marmont in Los Angeles—recently purchased property in the meatpacking district for a new hotel. The New York Post reports that Balazs paid $24 million for the three-quarter-block property bordered by Washington, Little West 12th, West 13th and the West Side Highway. Balazs recently sold his shares in the Gramercy Park Hotel for $32 million, and has also started construction on a Midtown hotel set to open early next year.

Posted 06.16.04