Manga Hotels Pays $50M for Second NYC Hotel Acquisition
The seller was again the Lam Generation, this time for the 158-key Chelsean New York at 158-162 West 25th Street
By Mark Hallum August 31, 2026 4:22 pm
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The Chelsean New York Hotel has traded hands for $50 million.
The Lam Generation, led by Jeffrey Lam, offloaded the 158-key hotel at 158-162 West 25th Street to Manga Hotel Group in what is the second transaction between the two in a little over a year, according to a deed transfer in property records made public Monday.
While the Canada-based buyer is a hotel operator, the 21-story building could be repositioned into a number of uses. Manga focuses on not only hospitality but also residential real estate.
It’s unclear who brokered the deal. Manga and Lam did not immediately respond to requests for comment.
In February 2025, Manga acquired the 160-key hotel at 54 Watts Street, also known as the SoHo 54 Hotel, which appears to still be in operation, for $56 million. The purchase was Manga’s first foray into the New York City market and the 19-story lodging would be branded under the Toor Hotel Collection.
The Chelsean was constructed in 2001, when Eric Brown acquired it as a development site for just $1.6 million in 1999, with Bob Knakal brokering the deal, according to an announcement reposted to the website of his new firm, Bob Knakal Real Estate Advisors.
Mark Hallum can be reached at mhallum@commercialobserver.com.
