Hotel developer Lam Generation has purchased a historic Manhattan property that used to be home to the Beastie Boys and may turn it into a boutique hotel.
The vacant six-story building was bought for $28.6million by the company’s Jeffrey Lam.
The company financed the purchase of the Chinatown property with a $14million bank loan.
In the 1980s an entire floor of the 55-59 Chrystie Street building was rented by New York hip hop group the Beastie Boys.
The group used it as a combined home, recording studio and party venue, and it even got a mention on one of their songs.
Lam Generation has been making big moves in New York in recent months, with the opening of the Renaissance New York Chelsea Hotel taking place in March.
The Renaissance New York Chelsea Hotel can be viewed below: