Which markets are most affected by Sonder’s liquidation sale?

Sonder, the short-term hospitality operator that recently filed for bankruptcy, is selling off its portfolio of leasehold interests in a slate of properties around the country — and no market will be more affected than New Orleans, Louisiana.

In the Big Easy, 32 of Sonder’s 189 leases, or almost 17 percent, are up for grabs, according to a list of the leases from global asset company Gordon Brothers, which is managing the sale.

Following New Orleans is Nashville, where Sonder has 17 leases. Philadelphia and New York City placed third and fourth, with 14 and 13 leases, respectively.

Apartment buildings accounted for the majority of Sonder’s U.S. leasehold interests, representing 139 properties, or 74 percent, of its total of 189 leases. Hotels made up the remaining share, with 44 properties — nearly a quarter of Sonder’s leases.

Among the Sonder properties on the market in New York are the Sonder Flatiron, an 11-story hotel at 9 West 26th Street, and The Merchant, another hotel at 139 Orchard Street in the Lower East Side.

Sonder’s leases in the U.S. span 16 states and Washington, D.C. The firm inked long-term deals with apartment and hotel owners to rent out those properties as short-term rentals. In November, Marriott International severed its licensing agreement with Sonder after the hotel chain claimed that Sonder was in default on an agreement between the firms. One day later, Sonder announced that it would immediately halt operations and file for Chapter 7 liquidation of its U.S. business.

Here is the complete list of Sonder’s U.S. leasehold interests that are on sale. Winning bidders need to give proof of funds by Jan. 9, 2026, and sales are set to close by the end of next month.