Andre Balazs is eyeing the fabled Chelsea Hotel. Spies at the 250-room property with a history of housing New York’s artistic and eccentric set spotted Balazs, who owns the hip Standard chain, poking around the lobby Wednesday before meeting with management for hours. Balazs then headed to the Chelsea Room under the hotel for drinks with a young female companion. Balazs was linked to the Chelsea in 2007 when longtime manager Stanley Bard was ousted and Balazs’ former associates, Richard Born and Ira Drukier, were tapped to handle day to day management. Sources say Balazs tried to buy the Chelsea at the time but didn’t succeed. Now that it’s up for sale again, some say Balazs has plans to give it the same magic touch he gave the Chateau Marmont when he transformed the Hollywood rock haven into a posh hangout for celebrities and LA elite. His rep said, “Pure speculation. We have no comment.”