Manga Hotel Group has acquired the Chelsean New York Hotel, a 158-key property located at 158-162 West 25th Street, for $50 million. The seller is Lam Generation, led by Jeffrey Lam. This transaction marks the second between the two parties in just over a year, according to property records released on Monday.
Although the Canada-based buyer is primarily a hotel operator, the 21-storey building could also be repositioned for other uses. In addition to hospitality, Manga Hotels also focuses on residential properties. Details regarding broker commissions or parties involved were not disclosed, as neither Manga nor Lam immediately responded to enquiries.
Back in February 2025, Manga had acquired the 160-room hotel at 54 Watts Street, known as the SoHo 54 Hotel, for $56 million. This hotel reportedly remains operational. That purchase marked Manga's first entry into the New York market, with the 19-storey property intended to be managed under the Toor Hotel Collection.
The Chelsean Hotel was completed in 2001. Eric Brown acquired the development site in 1999 for just $1.6 million. Bob Knakal brokered that deal, as stated in a reposted announcement on the website of his new firm, Bob Knakal Real Estate Advisors.
With this latest acquisition, Manga Hotels strengthens its presence in one of the world's most dynamic real estate markets. The company's strategy of being active in both hospitality and residential sectors could open up flexibility and value creation potential for the newly acquired property. The continued collaboration with Lam Generation also underscores existing business relationships and market trust.
