The Real Deal New York

Sam Chang plans hotel, resi for 557K sf Flushing site

Developer paid $26M for parcel and neighboring one
By Mark Maurer | December 05, 2014 01:37PM

UPDATED, Dec. 19, 6:30 p.m.: McSam Hotel Group’s Sam Chang, who signed a deal this week to buy a Midtown Manhattan industrial property, filed permits today for a three-building, 557,400-square-foot project in Flushing, Queens.

Chang paid $26 million for the development site as well as a neighboring parcel at 40-70 Delong. The sites collectively hold 557,400 square feet, Chang said. The properties will hold both a hotel and two residential properties. A warehouse occupied by Flushing Building Material Supply currently sits on the site at 131-02 40th Road.

Chang is planning to a build a 16-story, 277,400-square-foot hotel with 390 rooms. There would also be a ground-floor community facility and retail space and a 236-car attended parking garage.

The two 15-story residential buildings will each span nearly 140,000 square feet and hold 111 apartments. It is unknown if the 222 total units will be rentals or condominiums.

Long-time Chang collaborator Gene Kaufman is serving as the architect, documents show.

The McSam chief also agreed this week to purchase a 12-story industrial building for $22.5 million, as previously reported.

Kyna Doles contributed to this article.