The Real Deal New York

McSam buys LES building

August 01, 2008 01:36PM

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Sam Chang is still busy wheeling and dealing. His firm McSam’s latest purchase is a two-story commercial building at 150 Delancey Street on the Lower East Side, which he bought for $12.25 million, according to city records posted today. Chang has already filed for a permit to build a six-story hotel. The seller was Greg Manocherian of Pound Ridge, N.Y. Last week, Chang sold a Times Square area parcel in the early stages of construction for $59 million, far above the $13.48 million he paid in 2006. McSam also bought the neighboring 152-154 Delancey Street for $3.5 million from an entity listed as Delancey Properties Inc. Massey Knakal handled the sale of 150 Delancey Street.  TRD

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