The legendary Chelsea Hotel has seen all kinds of unpleasantness over the course of its history, but never, to the best of our knowledge, a coup. Living With Legends, an insider blog written by an occupant, breaks the news that the hotel's managing partner, Stanley Bard, is being pushed out by its board of directors. Bard's part in shaping the Chelsea Hotel myth is hard to overstate: He has lorded it over the grand brick heap since back when Leonard Cohen canoodled there with Janis Joplin. Adding to the uncertainty about the hotel's future is the fact that its ownership structure is a bit of a secret: It was originally split by three families, but Bard's is the only one that still manages it hands-on; the other two are represented by a board. Now, at that board's bidding, an "unnamed management company" will take over Stanley's day-to-day duties, and we do not like the sound of that one bit. Which comes first, you think: the condo conversion or the "Chelsea Hotel West" in Vegas?
UPDATE: Rubenstein emails with news on the new managers, Richard Born and Ira Drukler, who are apparently "two of New York City’s most successful and acclaimed hoteliers." Stanley Bard will still be involved in management, the announcement says. Full press release after the jump.
Board-Directed Coup Topples Chelsea Hotel’s Famed Manager Stanley Bard [Living With Legends]