As the legend of the Hotel Chelsea evaporates (allegedly!), one Mr. Andre Balazs may be interested in stepping in and reviving what's left of the institution... or at least capitalizing on its history while marketing it towards a celebrity crowd. According to Page Six the hotelier was spotted in the lobby and meeting with management last week (he's eyed the place in the past, too).

Some are speculating that Balazs, who also owns The Standard, "plans to give it the same magic touch he gave the Chateau Marmont when he transformed the Hollywood rock haven into a posh hangout for celebrities and LA elite." Which one do you think will sleep with the ghost of Dylan Thomas first?!