Chelsea just scored another hotel shakeup. A 22-story tower on West 25th Street has changed hands, with Manga Corporate shelling out $50 million for the 158-room Chelsean at 160 W. 25th Street. The company plans to fold the property into its TOOR Hotel collection, adding one more independently branded spot to a neighborhood already stuffed with galleries, restaurants and short-stay lodgings.
Deal details
Manga Corporate bought the 158-room Chelsean New York Hotel at 160 W. 25th St. from Lam Group for $50 million, which works out to about $316,456 per room, according to CoStar. CoStar’s report, published Tuesday, lists the building at 22 stories and identifies both the buyer and seller in the deal.
Buyer plans and announcement
Manga Hotel Group announced the purchase in a post on LinkedIn and now includes The Chelsean among its New York properties on its official site. The LinkedIn post and the company’s portfolio page state that the hotel will be converted into part of the TOOR Hotel collection and will undergo renovation as a piece of that conversion.
Property background
The tower includes a ground-floor restaurant and bar and recently went through a major financial tune-up. While it was still held by Lam Group, the property was the subject of a $40 million refinancing arranged in early 2025, according to Cronheim Mortgage. That loan was described at the time as funding capital improvements ahead of any longer-term repositioning of the asset.
Toor’s New York push
Manga has already been busy in Manhattan. The company acquired the SoHo 54 Hotel in 2025 and moved that property into the TOOR collection, according to Hotelier Magazine. The Chelsean is set to become Manga’s second New York foothold and extends TOOR’s presence in central Manhattan neighborhoods.
Why it matters to Chelsea
According to the buyer’s site, The Chelsean sits mid-block in Chelsea, within walking distance of the High Line and Chelsea Market. A renovated TOOR-branded hotel at that address could mean more boutique-style rooms for visitors cruising the area’s galleries and nightlife, although Manga has not yet shared any reopening timeline.
Initial reporting has nailed down the sale price and buyer, and company posts confirm a conversion is in the works but stop short of a public schedule. Details on the scope and timing of renovations are likely to come into focus as permitting and filing records start to surface.
