Hotel sales in the city increasing

So far in the first quarter of 2006, several New York hotels have changed hands, with many headed toward becoming condos The Mark Hotel on East 77th Street, for instance, was sold in January, and the new owners plan to renovate it into hotel condos and residential condos. Industry watchers expect more hotels to change hands this year, including the Beekman Tower Hotel at 49th Street and First Avenue and the Shelburne Murray Hill at 37th Street and Madison Avenue. more [Sun]