12/03/08

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Disgraced hotel exec buys Soho condo for $10M

W. Edward Scheetz

Walter Edward Scheetz, the disgraced former president and CEO of Morgans Hotel Group, has purchased unit 6B at 20 Greene Street in Soho for $10 million, according to city records. Scheetz resigned from Morgans in September, "by mutual agreement … to address personal issues," according to a press release from the company. Scheetz resigned just after a 24-year-old woman, Michelle Hatchel, was found dead of a drug overdose at Scheetz's Las Vegas apartment. Earlier this month, the Post reported that Scheetz offered Hatchel's family money, which her the woman's mother called "hush money to make us go away." Scheetz has been a real estate investor for more than ten years, living in both Las Vegas and New York. He founded NorthStar Capital Investment Group in 1997. Prior to his resignation, Scheetz had ambitious plans for updating and expanding Morgans' hotels. TRD