The drama at the Hotel Chelsea has been dragging on for a long time. It was four years ago that we visited the legendary hotel to get a tour from Stanley Bard, the longtime manager who was getting ousted at the time by some new blood. Since then there have been new faces at the helm, deals gone sour, and rumors a-plenty. The latest comes from two residents who run the Living With Legends blog from inside their apartment there—today they write, "staff members have been told to stop taking reservations after August 2nd. So if you want to spend one more night at the Chelsea Hotel before it closes, now is your last chance." We called the reservation line only to be met with a full voicemail box—but it does seem like making a reservation online for future dates still works.

We checked in with the residential bloggers to get caught up on the latest chaos there, as real-estate investor Joseph Chetrit moves in on closing a deal to buy the place. Sadly, no one really knows what's going on, or what the future holds... but note to new management: leave the roof alone (we've posted some photos here from one of our visits to the hotel a few years back, including some stunning shots of the unusual rooftop).

Can you summarize what's been going on at the Chelsea? It appears that since April, Joesph Chetrit, who reportedly offered $80 million, has been in negotiations with Marlene Krauss over the sale of the hotel. It is our understanding that the sale has not yet been finalized.

How are things changing? The management since the Bards have been allowing the place to go down hill for the last four years.

What do you think will happen after the August 2nd reservation cut-off? It looks like the Union staff are at risk of being laid off. There are several non-Union employees who may remain to staff the desk, clean the halls, and do odd jobs. Most likely Chetrit will start destructive construction around the building, although he needs a certificate of Non-Harassment to do anything really big. He has already said he wants to renovate the lobby and the retail space. But all of this happens only if the sale goes through.

What's going on with all of the art in the building (a lot of which has gone missing)—any updates? We don’t know what’s happening with the Art in the short term. Probably it is just being moved to a storage locker somewhere. One artist was reportedly able to contact David Elder and get her paintings back.

What's happening to residents? The residents don't know what to think.

What's the overall atmosphere amongst you all? The overall atmosphere is one of sadness and dismay. The residents are distressed that the Hotel employees may lose their jobs. Additionally, there is dismay that the Chelsea Hotel will now no longer welcome short-term guests. After the Bard family was ousted four years ago the Hotel ceased to accept long-term tenants. So, it's a double blow to the building.

What does the future hold for long-termers? While some residents are uncertain about the future right now others don't think anything will change. No matter what comes our way we are going to fight it out and try to restore the Bards or restore the Chelsea to what it's always been, a haven for the arts.