After months of speculation over which celebrity hotelier or bold-face-name developer might acquire the Hotel Chelsea at 222 West 23rd Street in Manhattan, the landmark property is under contract to be sold for more than $80 million, according to an article today by Craig Karmin in The Wall Street Journal.

The article said, however, that "the buyer's name remains a mystery" and that "the winner emerged from a crowded field of interested parties, including property mogul Aby Rosen and pop singer Marc Anthony."

"Widespread interest in who would purchase one of Manhattan's most storied hotels had the rumor mill working overtime. Newspapers, magazines and the blogosphere floated names like Ian Schrager, Andr¿ Balazs and even Google Inc. Douglas Harmon of Eastdil Secured, the broker on the deal, confirmed that there is a buyer but wouldn't reveal the identity," the article said.

"The aging lobby, retail and corridors are in need of upgrades that could cost more than $20 million, hotel analysts say, the article noted, adding that "Richard Born, a principal with BD Hotels, which briefly operated the Hotel Chelsea, confirmed he had made an offer: 'It's an iconic property in a great location that can be developed into a phenomenal hotel.'"

Hotel Chelsea, home to numerous artists, such as Dylan Thomas, and the setting of an Andy Warhol film, was put up for sale in October by its 15 shareholders.

"Google was rumored to be interested in acquiring the hotel after some noted that the search company's $1.9 billion office building at 111 Eighth Ave. was sold by Mr. Harmon, the same broker involved in the deal for the nearby Hotel Chelsea. 'There was a frenzy of interest for the hotel,' says Mr. Harmon. 'We even had people bidding through a surrogate like it was a high-end art auction,'" the article said.

"David Bard, scion of the Bard family that had run the hotel for decades, popped up recently as a potential contender, cheered on by the hotel's long-term tenants. Their hopes dimmed this week after several blogs reported that developer David Edelstein was the winner," the article said.

Hotel Chelsea opened in 1884 as one of the city's first co-ops. It is notable for its ornate facade and cast-iron balconies.

The property was "reorganized as a hotel around 1905 and attracted literary figures like Thomas Wolfe and O. Henry," a previous article by Mr. Karmin noted, and "beginning in the 1960s, the Hotel Chelsea not only hosted movie stars, poets and musicians, but it served as a muse or setting for some of their work. Arthur C. Clarke wrote '2001: A Space Odyssey' there, Leonard Cohen wrote the song 'Chelsea Hotel No. 2' in its honor, and Andy Warhol directed an experimental film, 'Chelsea Girls,' shot at the hotel. The film starred German singer Nico, who then recorded an album, 'Chelsea Girl,' with a track about the building's inhabitants."

Hotel Chelsea, which has about 125 hotel rooms and about 100 rental apartments, was also associated, the article said, with "darker episodes": "Dylan Thomas was a resident there when he died of alcohol poisoning in 1953, and the girlfriend of punk-rock legend Sid Vicious of the Sex Pistols was stabbed to death there in 1978."

By 2007, however, there were signs that not all the shareholders agreed with this sort of policy and the hotel hired BD Hotels, which owns and operates several New York hotels, to manage the property. The new managers succeeded Stanley Bard, whose family had managed the hotel for about 60 years but lost a power struggle with some of the other families who thought the management should be "more corporate."

The new management cracked down on people who were behind on their rent, but it was removed as manager in 2008 and the owners renovated the ballroom and opened a lounge in the basement.