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Sam Chang to build seven-story Times Square hotel
Developer has 99-year lease on West 44th Street parking lot site
Is this what retirement really looks like for Sam Chang? The McSam Group developer just filed plans for the second time this week for a hotel project — this time for a seven-story building in Times Square.
Chang is looking to build a 111-room hotel at 322-326 West 44th Street, between Eighth and Ninth avenues, spanning more than 35,000 square feet, according to a permit application filed with the Department of Buildings.
He acquired the 99-year lease on the parking lot site at a rate of $775,000 per year over the summer. Manhattan Parking Group owns the parking lot, having paid $6.8 million in 2007.
There will be nine hotel rooms on the lower level, 10 on the first floor, 16 rooms apiece on floors two through six, and 12 on the seventh floor, according to the permit.
The architect of record is Chang’s frequent collaborator Gene Kaufman. It isn’t yet clear how the hotel will be branded.
Chang told The Real Deal he hopes to break ground in six to eight months after he receives approval from the city.
He filed plans to build a 20-story hotel at 334 West 36th Street on Wednesday, as TRD reported.