Canada’s Manga Hotel Group has expanded its presence in New York City with the purchase of the Chelsean New York Hotel in Manhattan. Property records cited by Commercial Observer show that Manga paid $50 million for the asset, translating to more than $316,000 per key for the 158-key property.
The Chelsean New York Hotel is located at 158-162 West 25th Street in Manhattan. The hotel was originally developed in 2001, adding modern hospitality product to its surrounding neighborhood at the time of delivery. Specific details on current branding, repositioning plans, or renovation strategies were not disclosed in the available information.
The seller in the transaction was Lam Generation, a hospitality real estate developer led by Jeffrey Lam. The deal continues an existing relationship between Manga Hotel Group and Lam Generation, as Manga previously acquired another Manhattan hotel from the same seller. That earlier acquisition involved the SoHo 54 Hotel at 54 Watts Street, which Manga purchased in February 2025. The latest transaction underscores the ongoing transfer of Manhattan hotel assets from local developers to cross-border owners.
Manga Hotel Group brings a sizable existing platform to its New York holdings. According to the information provided, the company controls a portfolio of 35 hotels totaling 6,600 rooms. In addition to its hotel holdings, Manga is involved in seven high-rise apartment developments and operates food and beverage outlets as well as airport parking sites, indicating a diversified exposure across hospitality-adjacent real estate and services.
The firm is described as a trend-setter in Canadian hospitality, having developed the first Hampton Inn in Canada and the country’s first LEED-certified hotel. The acquisition of the Chelsean New York Hotel marks another step in extending that platform beyond Canada and deeper into one of the world’s most competitive urban hotel markets. Financial terms beyond the purchase price and metrics beyond the per-key value were not disclosed.
