Demolition may make way for Chang hotel

New York /
Mar.March 18, 2009 02:19 PM
 
Sam Chang wants to demolish 148-154 Delancey Street

Hotel developer Sam Chang has filed plans to demolish four buildings at the corner of Delancey and Suffolk streets on the Lower East Side to make way for a six-story Gene Kaufman-designed Holiday Inn.

Chang’s McSam Hotel Group applied for the permits on March 9 for the demolition of the buildings , according to the city’s Department of Buildings Web site. The permits remain under review, the Web site says.

Breaking from its usual modus operandi of developing hotels and selling them off, the hotel group will not put the future Holiday Inn, a full-service hotel brand, on the market, said McSam Hotel Group COO Gary Wisinski.

A stop-work order exists on one of the buildings, 148 Delancey Street, which had four complaints filed against it between March 19, 2008, and April 17, 2008, the DOB site shows. The complaints were filed against the previous owner of the properties for causes such as working without a permit, before Chang bought the structures in July 2008 for $15.75 million, property records show.

Wisinski said the company hoped to get clearance for the DOB to begin demolition in April.

The 40,414-square-foot hotel is planned to be 68 feet tall, the DOB site said. Chang took out a $10.675 million construction loan from the State Bank of Texas in June 2008, according to city finance records and Wisinski. The COO said he expects the building to be finished by late 2010 at the earliest.

Chang is planning to open 20 hotels over the next 20 months, according to reports.


Related Articles

arrow_forward_ios
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
Matt Lauer exposes Hamptons estate to the market
 Fredrik Eklund and the property (Getty, Steve Frankel)
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Fredrik Eklund lists Bel Air mansion for rent as family moves to “forever home”
Gordon Ramsey and his Lucky Cat restaurant (Lucky Cat)
Gordon Ramsay to open first South Florida restaurant in Miami Beach
Gordon Ramsay to open first South Florida restaurant in Miami Beach
48 East 81st Street
5 enviable abodes on the Upper East Side
5 enviable abodes on the Upper East Side
Battle royale over East Hampton Airport rages on
Battle royale over East Hampton Airport rages on
Battle royale over East Hampton Airport rages on
(iStock)
Rents in New York and South Florida metros surged more than 30%, led nationwide rise
Rents in New York and South Florida metros surged more than 30%, led nationwide rise
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Chetrit’s Queens industrial loft signs warehouse startup for 90K sf
Decentraland
This $2.4M virtual land deal is largest ever for digital real estate
This $2.4M virtual land deal is largest ever for digital real estate
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...