No More J Hotel

Last year, it was announced that Jay-Z would be opening up his own hotel, J Hotel, on New York’s West Side.

Cuz when you have the amount of money he has, you might as well invest and try different things!

But, unfortunately, it seems the bad economy has ruined his plans.

Cue the violins!

Apparently, developer Charles Blaichman (of Soho House) can’t secure the proper financing for the hotel.

So, instead they’re just going to try and rent out the former Time Warner Cable warehouse.

It seems Blaichman is having problems borrowing an estimated $370 million for three hotels, one of which would have been a venture with Jay-Z.

So what’s a rapper to do now????