Sam Chang, who announced in 2019 that he was going to sell more than 20 NYC hotels and retire—reportedly so he can spend more time on his passion, which is pigeon racing—has offloaded another $450M in NYC assets located in the Times Square area.

Chang’s McSam Hotel Group sold a commercial condo at 150 West 48th Street to Houston-based Dauntless Capital Partners for $290M. Magna Hospitality Group, based in Rhode Island, paid $160M to buy two Hilton-branded hotels, also at 150 West 48th Street. 


NOT FOR REPRINT

© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.