Manhattan’s Watson Hotel Sells for $175 Million as Market Thaws
- Buyer Yellowstone stepped in after previous owner defaulted
- 600-room property among biggest NYC hotel trades since Covid
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A 600-room hotel on Manhattan’s West Side has changed hands in one of the largest lodging transactions since the Covid-19 pandemic upended the global hospitality industry.
Yellowstone Real Estate Investments acquired the Watson Hotel on West 57th Street for roughly $175 million, according to people familiar with the sale who asked not to be named because the matter is private.