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Breaking the Standard Bank

2014_02_standardmepa.jpgAndre Balazs and his partners are poised to sell The Standard Hotel over the High Line for a whopping $400,000,000, or $1.2 million per room. The five-year-old hotel cost the original team almost $240 million, and it's unclear if the new owners would continue to have Balazs manage the property under the Standard flag. It's also unclear what this means for the beer garden, Standard Grill, Le Bain, and the Boom Boom Room, but one would think that the new owners would look to keep the money flowing from all of these sources. [Curbed NY]

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