Manhattan’s biggest distressed hotel deal of the pandemic just closed for $175 million. Isaac Hera’s Yellowstone Real Estate Investments bought the 600-room Watson Hotel at 440 West 57th Street, Bloomberg News reported. Yellowstone bought the leasehold on the property as well as the mortgage held by HSBC, which shopped the loan around after Richard Born and Ira Drukier’s BD Hotels defaulted last year. “The Watson represents for us a unique and rare opportunity to acquire The post Manhattan hotel trades in biggest distressed lodging deal of pandemic appeared first on The Real Deal New York.