The Real Deal New York

Comfort Inn Times Square South hits the market for $35M

Sam Chang sold the hotel to Gemini Real Estate Investors in 2008 for $25M
January 21, 2015 08:30AM

A Times Square hotel is hitting the market for $35 million.

The Comfort Inn Times Square South at 305 West 39th Street was built in 2007, according to the New York Post and has a 93 percent occupancy rate. Rooms are about $180 per night. The price per room — based on the $35 million asking price — comes down to $448,718.

Hotel developer Sam Chang built the hotel along with five other hotels on the same block. Chang sold the property to Gemini Real Estate Advisors in 2008 for $24.6 million.

The 78-key hotel is being brought to market by Marcus & Millichap’s Jerry Swon and Michael Rothstein as well as Gordon Allred, who works out of California. [NYP, 2nd] — Claire Moses