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Wells Fargo has sued to sell the Standard High Line Hotel in Manhattan, claiming the Hong Kong-based owner has failed to make any payments in over a year on a $170 loan.
In a complaint filed to the Manhattan federal court in early November, Well Fargo said Gaw Capital Partners Chairman Goodwin Gaw owes more than $186 million in principal, interest and fees on the 338-room hotel and asks that it be foreclosed on to recoup the bank's investments.
Gaw, who purchased the hotel in 2017 for $340 million, lashed out against the lawsuit and said he would 'vigorously defend' the 18-story Chelsea hotel against foreclosure, Bloomberg reported.
The hotel recently played host to a Studio 54-themed Halloween Party for stars like Lorde and Ava Max and was where Solanges Knowles was recorded attacking brother-in-law Jay-Z inside an elevator in 2014.
Wells Fargo sued to sell the Standard High Line Hotel, an 18-story, 338-room hotel, in NYC
Goodwin Gaw, chairman of Gaw Capital Partners, said he would 'vigorously defend' the hotel
