The Real Deal New York

Posts Tagged ‘Sam Chang’

  • holiday-inn

    532-540 West 48th Street in Midtown (Inset: Sam Chang)

    Hotel developer Sam Chang acquired the ground lease at the site of the Holiday Inn Express at 532-540 West 48th Street for $16.5 million. [more]

  • magna

    144-10 135th Avenue in Queens, and Magna’s Bob Indeglia

    Rhode Island-based hotel investment and management firm Magna Hospitality Group acquired a 13-story Hampton Inn near John F. Kennedy International Airport in Jamaica for $41.4 million, according to property records filed with the city today.

    The nearly 115,000-square-foot property at 144-10 135th Avenue, near 145th Street, holds 216 rooms. An affiliate of Wayne, Pa.-based Field Hotel Associates has owned the site since 2001, when the hotel opened there. [more]

  • 505-513 West 43rd Street

    505-513 West 43rd Street

    The development firm that bought a Far West Side property over a set of train tracks earlier this year is planning to erect a 16-story building that will offer both market-rate and affordable condos.

    The Elad Group, owner of the Plaza Hotel and developer of projects such as the warehouse-to-condo conversion of 250 West Street in Tribeca, is in the beginning stages of seeking city approval for its residential development at 505-513 West 43rd Street. [more]

  • mental-health

    334 West 36th Street (Inset: Sam Chang)

    Hotel developer Sam Chang of Great Neck, N.Y.-based McSam Hotel Group has added yet another Midtown West property to his portfolio with the purchase of the six-story Postgraduate Center for Mental Health for $50.8 million. [more]

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  • chang

    585 Eighth Avenue and Sam Chang

    Hotel developer Sam Chang borrowed nearly $42 million in loans for his 35-story Holiday Inn project in Midtown West, according to property records filed with the city last night.

    Chang received the mortgages from Dallas, Texas-based Bank of the Ozarks, and then proceeded to pay off $11.4 million to the New York Community Bank. The 85,000-square-foot hotel at 585-587 Eighth Avenue near 39th Street is slated to hold 271 rooms, more than 199 rooms previously planned for the site. [more]

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  • 20140630_chang_350_west_39th

    From left: Sam Chang, 350 West 39th Street and Robert Knakal

    Hotel developer Sam Chang has purchased the Garment District home of advertising agency R/GA for $110 million. [more]

  • chang-hilton

    From left: Rendering of Hilton Garden Inn Midtown East at 206 East 52nd Street, and Sam Chang

    Less than a week after the opening of the Hilton Garden Inn Midtown East, developer Sam Chang closed on the sale of the 85,000-square-foot hotel for $85.3 million, according to property records filed with the city yesterday.  [more]

  • whitehouse

    338 Bowery and Sam Chang

    Plans have been filed to convert the four-story East Village hostel, the Whitehouse Hotel, into a nine-story hotel. At around the same time, the building, which is minority owned by hotel developer Sam Chang, is in contract to be sold to an undisclosed buyer.

    Harry Shah, a majority owner associated with Manhasset-based Metro Sixteen Hotel LLC, and Chang are close to selling the property at 338 Bowery for $12 million. But, according to Department of Buildings records filed late last month, a proposed $5 million conversion would involve creating 68 rooms. Otte Architecture’s Michael Lisowski is listed on permits as the architect. [more]

  • Councilman Jumaane Williams

    Councilman Jumaane Williams

    The phrase “as-of-right” may soon lose its meaning in New York hotel development. The New York City Council is considering giving local community boards a say in the construction of new hotels and hotel apartments, even if a developer has as-of-right permission to build a project.

    The legislation was introduced March 12 by Councilman Jumaane Williams, who represents Brooklyn’s District 45 and chairs the Council’s Committee on Housing and Buldings, with the support of colleagues Margaret Chin, Corey Johnson, Peter Koo, Ritchie Torres and Helen Rosenthal. [more]

  • chang-337-west-36th

    337 West 36th Street and Sam Chang

    The McSam Hotel Group is looking to build an 18-story, 80-room hotel – either a Comfort Inn or a Days Inn – in Midtown West, company head Sam Chang confirmed to The Real Deal.

    Chang’s partner Dun Zhang at McSam filed plans with the Department of Buildings late last week to demolish the four-story, 9,500-square-foot warehouse currently on the site at 337 West 36th Street, between Eighth and Ninth avenues. [more]

  • chang-west-40th

    Sam Chang and 346 West 40th Street

    Developer Sam Chang plans to bring a 594-room hotel to the parking garage site at 346-354 West 40th Street that he purchased for $26.3 million in December.

    Gene Kaufman, a regular collaborator of Chang’s, is serving as architect on the 35-story hotel project between Eighth and Ninth avenues, according to building permits filed today, as first cited by the blog New York Yimby. The cabin-like units will be no larger than 300 square feet apiece. [more]

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  • chang-magna

    From left: 12 Water Street, Magna CEO Robert Indeglia and Sam Chang

    Veteran developer Sam Chang has passed up the opportunity to build a hotel on the site of a five-story commercial building in Lower Manhattan. Chang sold the property to Rhode Island-based Magna Hospitality Group for $44.3 million on Friday, he confirmed to The Real Deal, and subsequently filed plans to demolish it yesterday. [more]

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  • From left: Sam Chang and 11 West 37th Street

    From left: Sam Chang and 11 West 37th Street

    Hotel developer Sam Chang appears to be gathering steam, adding an $8.25 million building buy to hotel plans filed last May and the purchase of a $26.5 million site last month.

    Chang acquired the five-story 11 West 37th Street, the New York Observer reported, which will be delivered vacant and converted by Chang’s McSam Hotel Group. The site, located between Fifth and Sixth avenues, also has 14,675 square feet of air rights that are unused for the moment, and 25,000 buildable square feet. [more]

  • From left:

    Dr. Ruth Westheimer, Jed Walentas and Sam Chang

    From the January issue: In this month’s in their words feature, we hear from Two Trees’ Jed Walentas on the intelligence and riches of people who attend REBNY board meetings. Sam Chang of McSam Group also says he’s close to retirement. Lastly, sex therapist Dr. Ruth Westheimer speaks on how her husband’s concerns didn’t halt her from buying her Washington Heights apartment when it went co-op. See more here.

  • 326-West-37th-Street

    326 West 37th Street

    A 22-story hotel is rising on the Garment District parking lot site that developer Sam Chang is in contract to buy.

    Architect Gene Kaufman will design the 88,860-square-foot, 257-foot-tall building, to be located at 326 West 37th Street between Eighth and Ninth avenues, according to Department of Buildings documents filed today. There will be 240 rooms, a fitness center and a restaurant. [more]

  • chang-garage

    From left: 346 West 40th Street, Haym Gross’ proposed rendering and Sam Chang

    Although he claims he is in the twilight of his career, prolific hotel developer Sam Chang is continuing a string of purchases. Most recently, he paid $26.5 million for a 53,172-square-foot parking garage late last week, in order to build a hotel, he confirmed to The Real Deal. [more]

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  • sam-chang

    Sam Chang

    Veteran hotel developer Sam Chang is in contract to purchase a 10,000-square-foot Midtown West parking lot for north of $30 million, The Real Deal has learned.

    The lot, which has 75,000 buildable square feet, appears to be 326-330 West 37th Street between Eighth and Ninth avenues, according to PropertyShark. Next door, the Albanese Organization is in contract to sell a 15-story loft office building at 320-324 West 37th Street to real estate investors Isaac Chetrit and Ray Yadidi, as The Real Deal reported Tuesday. [more]

  • planet-fitness-sheraton

    From left: Sheraton at 370 Canal Street, and Planet Fitness

    Planet Fitness signed a 15-year lease for 15,700 square feet on the lower level of the Magna Hospitality Group’s Sheraton Hotel in Tribeca, according to Newmark Grubb Knight Frank, which represented the owner in the deal. [more]

  • From left: Sam Chang,

    From left: Sam Chang, 538 West 58th Street and 6 Water Street (Building photos: PropertyShark)

    Is Sam Chang getting back in the game? In recent weeks, his company, McSam Hotel Group — one of the city’s most prolific hotel developers — filed plans for two ground-up Manhattan projects, his first such applications since 2009. [more]

  • From left: Sam Chang and John Lam

    Hotel developers would be forced to get a special permit for any project in Midtown East if a push by a labor union succeeds, Crain’s reported.

    The New York Hotel Trades Council, which represents hospitality workers, wants the city to include the special permit provision in its Midtown East rezoning plan so that non-union hotels can’t come in to the area. [more]


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