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Morgans Hotel
Morgans Hotel was the world's first boutique hotel, located at 237 Madison Avenue in New York City. Founded by Studio 54 cofounder Ian Schrager as the first property in the Morgans Hotel Group, it opened in 1984.
The 1927 building was designed by architect Andrew J. Thomas, erected as Hotel Duane intended for long-term stays. An article of the era notes, "in design, the exterior of the building indicates a free interpretation of the Italian Romanesque style harmonizing very well with the fraternity clubs building at the north, designed in a similar style." When initially opened, the lobby and guest rooms showed "a rather free interpretation of Spanish Renaissance decoration." The hotel had operated under the name, Executive Hotel.
In 1984, Studio 54 cofounders Ian Schrager and Steve Rubell opened their first hotel, Morgans Hotel, named after J. P. Morgan's Morgan Library & Museum nearby. Designed by Andrée Putman, the instant hit introduced the boutique hotel category, becoming a "worldwide phenomenon." In June 2005, Schrager sold most of his stake in the namesake Morgans Hotel Group to launch the Ian Schrager Company. Morgan Stanley underwrote MHG's initial public offering in February 2006, offering 18 million shares for about $20 each. Schrager cashed in his remaining 450,000 shares for another $9 million. Morgans Hotel Group was a publicly traded company on NASDAQ for over a decade.
In May 2016, Sam Nazarian's SBE Entertainment Group agreed to acquire the namesake MHG for $805 million, in a take-private transaction completed November 30, 2016. The son of Qualcomm board member and stakeholder Younes Nazarian (via M&A), Nazarian and SBE are better known as owners of LA lounges frequented by celebrity patronage and HBO's Entourage, appearing as himself in the "No Cannes Do" episode.
In July 2017, the building was purchased by Shel Capital and Kash Group. The new owners closed Morgans Hotel and converted it to luxury condos in 2018, named No. 237.
Andrée Putman served as interior designer for the 1984 and 2008 complete renovations of the 1927 structure. New design features were evident throughout Morgans' public spaces, including:
An over-sized, 2-story, balconied "living room" lobby, with textured taupe-colored glass walls and overlaid bronze mullions, featuring a custom Putman-designed wool rug of black, rich camel and taupe in a bold three-dimensional cubist pattern.
Floors were in three varied shades of imported Italian granite in different finishes, with groupings of antique French leather club chairs, including a teak and caned plantation chair from the '40s, all culled from Paris' top flea markets. Putman designed dark wood end tables, with spherical-shaped desk lamps in nickel-plated brass created by Félix Aublet in 1925. Candles were lit in the evening, coupled with black-and-white checkerboard patterned wool throws loosely draped over the French club chairs to further accentuate the "lived-in" feel.
Morgans Hotel
Morgans Hotel was the world's first boutique hotel, located at 237 Madison Avenue in New York City. Founded by Studio 54 cofounder Ian Schrager as the first property in the Morgans Hotel Group, it opened in 1984.
The 1927 building was designed by architect Andrew J. Thomas, erected as Hotel Duane intended for long-term stays. An article of the era notes, "in design, the exterior of the building indicates a free interpretation of the Italian Romanesque style harmonizing very well with the fraternity clubs building at the north, designed in a similar style." When initially opened, the lobby and guest rooms showed "a rather free interpretation of Spanish Renaissance decoration." The hotel had operated under the name, Executive Hotel.
In 1984, Studio 54 cofounders Ian Schrager and Steve Rubell opened their first hotel, Morgans Hotel, named after J. P. Morgan's Morgan Library & Museum nearby. Designed by Andrée Putman, the instant hit introduced the boutique hotel category, becoming a "worldwide phenomenon." In June 2005, Schrager sold most of his stake in the namesake Morgans Hotel Group to launch the Ian Schrager Company. Morgan Stanley underwrote MHG's initial public offering in February 2006, offering 18 million shares for about $20 each. Schrager cashed in his remaining 450,000 shares for another $9 million. Morgans Hotel Group was a publicly traded company on NASDAQ for over a decade.
In May 2016, Sam Nazarian's SBE Entertainment Group agreed to acquire the namesake MHG for $805 million, in a take-private transaction completed November 30, 2016. The son of Qualcomm board member and stakeholder Younes Nazarian (via M&A), Nazarian and SBE are better known as owners of LA lounges frequented by celebrity patronage and HBO's Entourage, appearing as himself in the "No Cannes Do" episode.
In July 2017, the building was purchased by Shel Capital and Kash Group. The new owners closed Morgans Hotel and converted it to luxury condos in 2018, named No. 237.
Andrée Putman served as interior designer for the 1984 and 2008 complete renovations of the 1927 structure. New design features were evident throughout Morgans' public spaces, including:
An over-sized, 2-story, balconied "living room" lobby, with textured taupe-colored glass walls and overlaid bronze mullions, featuring a custom Putman-designed wool rug of black, rich camel and taupe in a bold three-dimensional cubist pattern.
Floors were in three varied shades of imported Italian granite in different finishes, with groupings of antique French leather club chairs, including a teak and caned plantation chair from the '40s, all culled from Paris' top flea markets. Putman designed dark wood end tables, with spherical-shaped desk lamps in nickel-plated brass created by Félix Aublet in 1925. Candles were lit in the evening, coupled with black-and-white checkerboard patterned wool throws loosely draped over the French club chairs to further accentuate the "lived-in" feel.