Bob Ghassemieh cited the South Street Seaport district’s “rebirth” as motivation for buying the hotel with Howard Hughes for $38 million in 2016. But that was before Covid.

South Korean luxury resort operator Sono Hospitality Group has made its biggest step yet into the U.S., buying the 66-key Mr. C Seaport hotel for a healthy per-room price of just over $900,000.

Located in the Financial District, the Wall Street Hotel is surrounded by historic buildings and popular attractions like Federal Hall, the South Street Seaport and the present-day New York Stock ...