Sam Chang Unloads Times Square Portfolio for $450M

Proceeds keep growing for a slow-motion retirement that started in 2019.

By Jack Rogers | September 19, 2023 at 05:03 AM

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.

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