Jay-Z’s boom-time dream of constructing a Hova-worthy hotel on the High Line officially ended today. A deed filed in New York transferred the property at 511 West 21st Street from the rapper-mogul to a company held by his original lenders. The hotel — conceived of in 2007, when even Jay-Z could afford to flaunt money more so than today — was set to be the first in a series of what he dubbed J Hotels.
A second attempt at spending cheese on suites — this time at 345 West 14th Street — also failed to be constructed, despite a partnership with Standard Hotel baron Andre Balazs, who recently announced plans to open an ice rink, of all things. Though he’s wildly successful in nearly everything he dips his toes into, when it comes to hotels Jay-Z is neither a businessman nor a business, man.
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