Current General Manager Arnold Tamasar has told multiple tenants that Tristar Capital, headed by former cab driver David Edelstein, has bought the Chelsea, reportedly for significantly less than Madoff-victim Marlene Krauss’s asking price. Condos to come. Meetings with the hotel staff have been called to inform them that a new management team will be taking over immediately to assess and define the logical next step. As the new buyers are said to be notoriously anti-union, employees here at the hotel have been told to be on their A-game or be fired. “Look busy!” was reportedly Tamasar’s blunt directive.
Tamasar was silent as to whether TMS pioneer Krauss and her faithful servant David Elder had negotiated side deals of their own to maintain shareholder participation in the venture. But we do hope we’ve seen the last of them.
Edelstein seems a decidedly déclassé choice for the tony-coiffed Krauss, as he was the man who single-handedly destroyed the charm and allure of South Beach. Perhaps destruction and scorched earth is their common ground. Good luck in inking that deal, Edelstein. Our advice for dealing with Krauss: watch your back.
Living with Legends 
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