Chelsea Hotels, the entity that owns the storied Chelsea Hotel and was formerly known as King & Grove, is putting two of its hospitality holdings on the chopping block — the McCarren Hotel & Pool in Williamsburg and the Martha Washington Hotel on East 29th Street.
Eastdil Secured is marketing the properties, fueling speculation that the company, controlled by Ed Scheetz, will sell its entire New York portfolio, according to Crain’s. The McCarren Hotel has 64 rooms, while the Martha Washington Hotel holds 261 rooms.
Through the city’s hotel renaissance, Chelsea Hotels has struggled, becoming embroiled in a legal struggle with rent-stabilized tenants at the Chelsea Hotel as it attempted to convert the property to a boutique hotel, and then parting ways with its former co-owner of the hotel, Joseph Chetrit, amid the tension. That suit was eventually settled, and tenants were allowed to stay while renovations continued.
Earlier this year, the McCarren Hotel and Pool’s trendy restaurant, the Elm, which was headed by renowned chef Paul Liebrandt, shuttered. [Crain’s] — Tess Hofmann