New York City’s hotel market just got another $50 million reason to pay attention.
Manga Hotel Group has closed its acquisition of the Chelsean New York Hotel for $50 million, purchasing the 158-key property at 158-162 West 25th Street from Lam Generation. The deal officially closed August 31, 2026, according to property records.
For Manga Hotels, the deal is more than another Manhattan address—it marks the Canadian hospitality company’s second New York City hotel acquisition. Its first was the 160-room SoHo 54 Hotel, purchased for $56 million in February 2025, also from Lam Generation. Talk about knowing your seller.
The 21-story Chelsean New York, constructed in 2001, sits in one of Manhattan’s most desirable neighborhoods, close to the High Line, Chelsea Market, Madison Square Garden and the Flatiron district. The property also includes a ground-floor restaurant and bar, fitness center and meeting spaces.
So what happens next? Manga has said the hotel will undergo a significant renovation and conversion into its Toor Hotel Collection, following the same strategy it is using with the former SoHo 54.
At roughly $316,000 per room, the $50 million purchase represents a sizable bet on Chelsea—and on the continued appeal of New York City hotels. Manga currently operates a sizable hospitality portfolio, and its Manhattan expansion suggests the company isn’t just dipping a toe into the NYC hotel market. It may be getting ready to swim.
For Chelsea, meanwhile, expect a fresh hotel makeover, a new brand and potentially another fashionable place for visitors to check in. Because in New York, apparently even hotels get glow-ups.
