The Real Deal New York

Posts Tagged ‘Sam Chang’

  • Sam Chang and Club Quarters Hotel Wall Street

    Just months after buying two Club Quarters hotels in Midtown, Sam Chang picked up a third in the Financial District.

    The hotel developer paid $95 million for the Club Quarters Hotel Wall Street, the Commercial Observer reported. The seller, Rockwood Capital, bought the 20-story property at 52 William Street for $92.1 million in 2006. [more]

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  • sam-chang-292-fifth-avenue

    Sam Chang 292 Fifth Avenue

    Sam Chang is snapping up a vacant Koreatown development site at 292 Fifth Avenue from fellow hotelier Richard Born for $42.5 million.

    The site can accommodate around 70,000 square feet of space, Crain’s reported.

    Born — who heads BD Hotels and is known for developing places like the Mercer and Stanhope Hotels — bought the three adjacent buildings at 292, 294 and 296 Fifth Avenue in 2013. He had torn them down, and had filed plans for a 20-story building with 57,000 square feet of hotel space and almost 12,000 square of apartments, according to the publication. Chang’s plans for the building are not yet clear. [more]

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  • Whitehouse Hotel and Sam Chang

    Whitehouse Hotel and Sam Chang

    A Manhattan judge has banned a litigious tenant of a storied Bowery SRO from suing his landlords.

    Roland Davis was told that unless he gets a lawyer to represent him, he’s not allowed again to file suit against current or former owners of the famed Whitehouse Hotel at 338-340 Bowery – putting a stop to a string of nearly two dozen frivolous lawsuits. [more]

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  • 523-529 8th Avenue and Sam Chang

    523-529 8th Avenue and Sam Chang

    UPDATED: Oct 21. at 5:09 p.m. Hotel developer Sam Chang is expanding his reach in the Garment District — this time with plans for a hotel on the corner of West 36th Street and Eighth Avenue. [more]

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  • 131-02 40th Road in Flushing

    131-02 40th Road in Flushing

    Wing-Fung Realty Group, led by Andy Chau, plans to bring a pair of mixed-use residential towers spanning 550,000 square feet to Flushing, according to permits filed with the city’s Department of Buildings Friday.

    The development, at 131-02 40th Road, will feature two buildings that both reach 19 stories, with 276,000 square feet of residential space and 278,000 square feet of commercial space, permits indicate. Wing-Fung plans 326 apartments between the two towers, as well as a community facility. Filings don’t indicate if the apartments will be condos or rentals. [more]

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  • 50960_Sam_Chang-172x250

    Sam Chang (credit: STUDIO SCRIVO)

    How have you been able to be successful?
    I don’t think I am successful yet. My dream is to be a billionaire.

    What is your favorite hotel?
    InterContinental Hotel Hong Kong.

    Is it yours?
    I wish!

    What’s one thing people don’t know about you?
    People who don’t know me think that I’m a real tough guy. But I’m a very easy person to get along with. I have all different kinds of friends. If you’re a janitor, you can be my friend, all the way up to Donald Trump, who’s my friend.

    Read the full installment of the Closing from the July 2008 issue here.

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  • From left: 25 West 51st Street, 40 West 45th Street and Sam Chang

    From left: 25 West 51st Street, 40 West 45th Street and Sam Chang

    Hotelier Sam Chang is adding to his Midtown portfolio, snapping up two Club Quarters hotels for $155 million. [more]

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  • Holiday Inn LaGuardia (inset: Sam Chang)

    Holiday Inn LaGuardia (inset: Sam Chang)

    Hotelier Sam Chang’s bet on the hotel market around LaGuardia Airport is taking flight. [more]

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  • 142-28 38th Avenue in Flushing

    142-28 38th Avenue in Flushing

    The developer of Flushing condo building Shirokia Tower filed for bankruptcy Wednesday, a little more than a year after Madison Realty Capital temporarily saved the project with a last-minute $14 million loan.

    Sandy Jiang first filed for bankruptcy for the 23-unit, 53,255-square-foot building at 142-28 38th Avenue in late 2014, but a foreclosure auction was called off when Madison threw the project a lifeline in April 2015.

    A spokesperson for Madison Realty told TRD that the company is no longer a lender on the project as of this spring. The project’s current mezzanine lender is a partnership between W Financial and hotel developer Sam Chang, who lent Jiang an undisclosed amount last December.

    The bankruptcy was filed on behalf Shirokia Mezz I LLC, whose sole member is Jiang. [more]

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  • mental-health

    338 West 36th Street (inset: Sam Chang)

    Sam Chang nabbed a $115 million construction loan from Bank of the Ozarks to build a 28-story hotel at 338 West 36th Street, almost two years after buying the lot. [more]

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  • 523 Eighth Avenue

    523-529 Eighth Avenue in the Garment District (credit: CoStar) (inset: Sam Chang)

    Hotelier Sam Chang’s latest play is in the Garment District, where he just acquired a 99-year ground lease on a one-story retail strip for $27.1 million, according to property records filed with the city Monday. [more]

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  • Sam Chang

    From left: Rendering of 538 West 58th Street in Hell’s Kitchen (credit: Gene Kaufman Architect) and Sam Chang

    Hotelier Sam Chang is partnering with international lodging chain Marriott on five new, ground-up hotel projects across the city.

    Chang’s Great Neck-based McSam Hotel Group already owns two Marriott hotels in Indianapolis, but is now partnering with the chain on five ground-up developments that will bear the Marriott name and represent the hotelier’s first collaboration with Marriott in New York City. [more]

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  • From left: 14 and 16 East 39th Street and Sam Chang

    From left: 14 and 16 East 39th Street and Sam Chang

    Details have emerged on hospitality magnate Sam Chang’s plans for a 20-story hotel in Midtown East.

    The McSam Hotel Group boss is scheduled to close on 14 and 16 East 39th Street for $31.6 million. The vacant properties — acquired from Midtown-based ClearRock Properties and Stamford, Conn.-based Juster Properties — will be demolished to make way for a 20-story Hyatt Hotel. [more]

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  • Sam Chang Midtown Hotel

    From left: 9 East 38th Street in Midtown and Sam Chang

    Hotelier Sam Chang is planning a new 22-story, 162-key hotel in Midtown, according to permit applications filed Tuesday with the city’s Department of Buildings.

    Plans indicate the Great Neck-based developer wants to build a new hotel at 9 East 38th Street, between Fifth and Madison avenues, that would span more than 66,000 square feet. The existing structure is a 12-story office building. [more]

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  • Quadrum Hotel

    Rendering of 351 West 38th Street in the Garment District (credit: Marvel Architects)

    Quadrum Global is planning to develop a 26-story, 500-key hotel in the Garment District, an area teeming with boutique hotel options. [more]

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  • Sam Chang

    Sam Chang

    For years, as developer Sam Chang dotted the city with 25 hotels, he remained under the radar, and that’s just the way he liked it. But success has a price.

    Now that Chang has put up projects in all five boroughs (see chart) and refined his ability to build hotels citywide, his name and fame have grown to the point where privacy is harder to preserve. Read the full article from the December 2006 here.

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  • Sam Chang flip-flops on Flushing

    October 20, 2015 06:15PM
    Hotelier Sam Chang's feelings on Flushing have changed in the last month.

    Hotelier Sam Chang’s feelings on Flushing have changed in the last month.

    “The market is hot in Flushing right now,” McSam Hotel Group’s Sam Chang told The Real Deal just last month, enthusiastic about future plans for condo towers and two hotels at 40-70 Delong Street in Queens. Turns out Chang’s Flushing honeymoon phase has passed, as he is now apparently in contract to sell the development site. [more]

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  • 338 West 39th Street in the Garment District and Sam Chang (inset)

    350 West 39th Street in the Garment District and Sam Chang (inset)

    Sam Chang’s McSam Hotel Group filed plans today for a 21-story, 400-key hotel at 350 West 39th Street in the Garment District, his second new hotel filing in the neighborhood in as many weeks. [more]

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  • Sam Chang and 338 West 39th Street

    Sam Chang and 338 West 39th Street

    Sam Chang plans to build a 25-story, 175-key hotel on a Garment District development site where he began evicting manufacturing tenants earlier this year. [more]

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  • From left: Ramdat Harihar (credit: The Wilson Quarterly) , 338 West 39th Street in the Garment District and Sam Chang

    From left: Ramdat Harihar (credit: The Wilson Quarterly) , 338 West 39th Street in the Garment District and Sam Chang

    When budget hotel developer Sam Chang filed eviction proceedings against tenants at 338 West 39th Street last month, it highlighted a project that is a virtual case study of the change sweeping the neighborhood.  [more]

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