Richard Born dumps Chambers Hotel for $66M

Sonder was already out of the picture at the Chambers Hotel in Midtown Manhattan. BD Hotels is following suit. Richard Born’s firm sold the property at 15 West 56th Street to the Toronto-based Hennick Group for $66.2 million, Crain’s reported. The deal for the 77-room property breaks down to roughly $860,000 per key. BD and Caspi Development acquired the Billionaires Row site in 1998 for $5 million. The partners redeveloped the parking lot into a 55,000-square-foot hotel, which opened in 2021. Caspi owned a stake in the building up until its sale. At some point, the developers handed operations over […] This article originally appeared on The Real Deal. Click here to read the full story.