A new front-runner has emerged to buy the iconic Chelsea Hotel: David Edelstein, president of New York-based Tristar Capital, which plans to turn it into a swanky condo hotel. Other suitors for the bohemian refuge with an asking price of $100 million have included Andre Balazs and Ian Schrager. Tristar Capital developed the W Hotel South Beach and opened the W Hotel London this week. Sources say Edelstein may turn the West 23rd Street landmark into a mix of hotel rooms and apartments. Legendary former manager Stanley Bard said he wanted to buy the Chelsea, but told us yesterday he recently suffered health problems and “things have changed.”