McSam buys West Side property for $24 million

Sam Chang’s McSam Hotel Group has purchased a property at 431 West 33rd Street for $24 million, according to city records. The property, a 7,400-square-foot parking lot, is between Ninth and Tenth avenues. The seller was Saxa, Inc. of Scottsdale, Az. Earlier today, The Real Deal reported that McSam sold a Sheraton Hotel being built at 370 Canal Street to Magna Hospitality Group for $83.5 million. TRD