"JAY-Z PLANNING TO OPEN CHAIN OF LUXURY HOTELS"

From XXL Mag:

Jay-Z and his financial partners, Charlie Blaichman and Abraham and Scott Shnay, have announced plans to launch a chain of high end five-star hotels. According to Globest.com, the chain will be called J Hotels and the flagship location will be developed on the 150,000 square foot property that the group recently purchased in Manhattan’s Chelsea neighborhood. Jay and his partners plan to expand J Hotels into other cities following the opening of the New York location. The property stretches from 510 W. 22nd Street to 512 W. 21st Street and is currently the occupied by a five story warehouse and parking facility that is under lease to Time Warner Cable. (continue)