A placard marking the Chelsea Hotel's landmark status reads, “The Chelsea was opened in 1884 as one of the city’s earliest cooperative apartment houses. It became a hotel about 1905... Artists and writers who have lived here include Arthur B. Davies, James T. Farrell, Robert Flaherty, O. Henry, John Sloan, Dylan Thomas and Thomas Wolfe. " One of the most important buildings in all of New York in the last Century, The Chelsea, with its bright red exterior and ornate iron balconies, still stands tall today. The past may never come back, but the new owners of this incredible landmark have told all of the long-time current residents of the hotel that he wants to restore the feel that the hotel had in the 1960s, just without all of the drugs and drama. The original owner, Stanley Bard, should take full credit for making it famous, gave musicians and other artists a place to live when no one else would. He “trusted everyone, ” and “understood all of the artists that lived and stayed here, ” according to Dan Courtenay, a resident of the hotel and owner of Chelsea Guitars on the ground floor - Bard appreciated what Manhattan was all about, he “was the heart of the place. ” The Chelsea hotel is where Andy Warhol threw an assassination party after the death of JFK -- where many Titanic survivors took refuge in 1912 -- where Betsy Johnson created the mini skirt -- Mark Twain, Jack Kerouac, Mark Rothko, James Schuyler, Arthur C. Clarke, Bob Dylan and Leonard Cohen all spent time at this hotel, walking its hallways and working on their art. Today, the ghosts of former tenants are said to roam the halls, and the hotel gives off an air of mystery and fame.