real estate

André Balazs Lost Some Pocket Change on a Failed Deal

Andres Balasz.
Andres Balasz, Barbara Hodes, Michael Gross, Ann Barish==GEORGE FARIAS, ANNE HEARST and JAY MCINERNEY Host a Christmas Cheer Cocktail==Club 21, NYC==December 15, 2011==©Patrick McMullan==Photo - Leandro Justen/

André Balazs wanted to turn Temple Court, a nineteenth-century building near City Hall, into a 200-person hotel. Sadly for the serial-celebrity-dater, the deal’s fallen through — Balasz reportedly couldn’t get the financing —and so the hotelier will lose the deposit he put down on the property, rumored to be as much as $5 million. But take heart: The failed deal doesn’t necessarily mean the space won’t turn into a sceney hotel. The Post reports that the group behind the Ace Hotel is supposedly interested in the space.

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Balazs Lost Some Pocket Change on a Failed Deal