Inside NYC's famed Chelsea Hotel

Since opening its doors in 1884, New York City's Chelsea Hotel has welcomed artists, writers and cutting-edge thinkers who shaped America's cultural landscape. Today, the storied landmark is being developed into a luxury boutique hotel. Correspondent Alina Cho talks with residents, and with "Inside the Dream Palace" author Sherill Tippins, about the Chelsea's unique history; and with developer Sean MacPherson about his determination to approach the Hotel Chelsea's restoration with reverence.