Hotel Chelsea under contract for $80 million sale

NEW YORK

But the buyer's name remains a mystery.

Whoever it is will have to dump at least $20 million into sorely needed renovations.

/*Hotel Chelsea*/ was home to numerous artists, the setting of an /*Andy Warhol*/ film and the scene of the infamous murder involving /*Sid Vicious*/, of the /*Sex Pistols*/.

The broker says there was a frenzy of interest for the hotel and that people were bidding through a surrogate, as in a high-end art auction.

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