Chang sells Chelsea hotel for $39M
November 12, 2008 11:44AM By Adam Pincus
Sam Chang
Hotel developer Sam Chang of the McSam Hotel Group and a partner sold their newly opened Wyndham Garden Hotel Manhattan Chelsea West, for $39.06 million, according to property records published today. The buyer was Gemini Real Estate Advisors, a real estate firm based in Manhattan.
The 17-story hotel with 124 rooms -- the first Wyndham in New York City -- opened last week at 37 West 24th Street, a hotel employee said.
The transfer was planned to occur once the hotel opened, McSam Hotel Group COO Gary Wisinski said in an email.
The sale went into contract May 2006, and was finalized November 4, the property records indicate.
Gemini owns several hotels in New York City, including a Howard Johnson at 135 East Houston Street at Forsyth Street and the Comfort Inn Midtown West at 442 West 36th Street between Ninth and Tenth avenues.
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Comments
Anonymous
What this guy need to do is clean up his East 8th st and Ave D lot that is just sitting there with green water inside of it. It brings mosquitos and it stinks. CLEAN THE DAMN SITE UP!. It's not the areas fault that you hit the river by digging a whole. Its not their fault that you were taken for 5 Mil. Clean it up or I'll have the inspector their every day.
Comment #1 Posted By: Anonymous 11/12/08
Anonymous
STOP HATING AND GET A JOB !
Comment #2 Posted By: Anonymous 11/12/08
Anonymous
wow did someone just say stop hating here? oh yea i forgot.. any two bit person can get a real estate license.
Comment #3 Posted By: Anonymous 11/12/08
Anonymous
Yea but not any two bit broker will survive this market. 99.9999 percent of these phony develpopers out there got there cash from their parents. LOSERS!
Comment #4 Posted By: Anonymous 11/12/08
Anonymous
Who cares if people get cash from their parents? Those people are fortunate, some make wise decisions with newfound wealth and some don't. I have a trust fund that pays me a monthly dividend. I am very fortunate and I have been able to put that money to work towards securing financial security for my family. Tell me, is there something wrong with that?
Comment #5 Posted By: Anonymous 11/12/08
Hotel Director of Sales
We are excited to be open and welcome guests to experience the very first Wyndham to open in New York City! Have a safe trip in and see you soon!
Comment #6 Posted By: Hotel Director of Sales 11/12/08
Happy fan
The hotel is great! Staff is very nice and helpful, rooms are nice and has everything you need! Very convenient! Great looking management team too! Check it out, especially the sales team.
Comment #7 Posted By: Happy fan 11/13/08
Happy Broker
Sam is the man
Comment #8 Posted By: Happy Broker 11/13/08
Anonymous
cheap looking place
Comment #9 Posted By: Anonymous 11/16/08