# Shamin Hotels Purchases First Property in New York City

Published 2018-03-12 · Updated 2026-03-26 · Hospitality on MarketScale
Canonical: https://www.marketscale.com/industries/hospitality/shamin-hotels-purchases-first-property-new-york-city

> New York City is acquiring Virginia-based hospitality investor Shamin Hotels. In a deal made last week, Shamin purchased the Hampton Inn hotel in the Financial District from Hersha Hospitality Trust for $32.4 million. The seven-story hotel at 32 Pearl Street near Battery Park originally sold to Hersha for $28.73 million from hotelier Sam Chang in…

New York City is acquiring Virginia-based hospitality investor Shamin Hotels. In a deal made last week, Shamin purchased the Hampton Inn hotel in the Financial District from Hersha Hospitality Trust for $32.4 million.

The seven-story hotel at 32 Pearl Street near Battery Park originally sold to Hersha for $28.73 million from hotelier Sam Chang in 2011, when the company expanded to NYC. Architect Gene Kaufman designed the new structure, and $4.5 million was spent to convert the Art Deco apartment building into a hotel.

According to the hotel’s website, guests can “*enjoy proximity to Wall Street and some of the world’s largest business headquarters as well as the historic South Street Seaport district and the 9/11 Memorial Site. Located within steps of Battery Park, the hotel offers a great location for visiting the Statue of Liberty and the Ellis Island Immigration Museum*.” [[1]](#_ftn1)

[[1]](#_ftnref1) http://hamptoninn3.hilton.com/en/hotels/new-york/hampton-inn-manhattan-downtown-financial-district-NYCMNHX/index.html

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