Matthews Negotiates $12M Sale of Hospitality Building in Manhattan’s Chinatown District
Why this matters
Hospitality has separated by chain scale and demand segment, with luxury and resort outperforming and select-service holding pricing power on a leaner cost base. New construction starts remain at multi-decade lows, which has supported in-place RevPAR and made conversions of soft-branded flags an increasingly active part of transaction velocity. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. For sponsors with operational expertise, the sector continues to offer one of the more compelling income-plus-appreciation profiles available across CRE.
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On the RET wire
- The 44th New York story tracked on the wire in November 2026. All New York coverage →
- One of 77 hospitality stories tracked on the wire in November 2026. All Hospitality coverage →
Computed from Real Estate Trail’s own tracked coverage
NEW YORK CITY — Nashville-based brokerage firm Matthews has negotiated the $12 million sale of 101 Bowery, a hospitality building in Manhattan’s Chinatown district that was formerly housed the New World Hotel. The bui…
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