Complex sentence: Following Weissberg's death in 2003 Gramercy Park Hotel was sold to Ian Schrager, who completely redid the hotel in a collaboration with artist Julian Schnabel--who designed the interiors and many fixtures and furniture pieces throughout the hotel--restoring its luxury status.
Split into simpler sentences: Following Weissberg's death in 2003 Gramercy Park Hotel was sold to Ian Schrager, who renovated the hotel in a collaboration with artist Julian Schnabel. Schnabel designed the interiors and many fixtures and furniture pieces throughout the hotel, restoring its luxury status.