The cracks are starting to show in New York City’s hotel market. Richard Born and Ira Drukier’s BD Hotels — the largest boutique hotel company in the city — has stopped making payments on their mortgage on the 600-room Watson Hotel on Manhattan’s West Side, sources told The Real Deal. Now, HSBC, which provided BD Hotels with a $42.5 million loan in 2011 to finance its leasehold on the hotel at 440 West 57th Street,
source https://therealdeal.com/2020/06/26/bd-hotels-defaults-on-watson-hotel-mortgage/
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