McSam Hotel Group

523-529 Eighth Avenue

McSam Hotel Group Acquires 99-Year Ground Lease at Commercial Development Site, 523-529 Eighth Avenue, Garment District

Sam Chang’s Great Neck, N.Y.-based McSam Hotel Group has closed, for $27.1 million, on a 99-year ground lease of the 7,454-square-foot property at 523-529 Eighth Avenue, in the Garment District section of Midtown. Located on the corner of West 36th Street, the lot is currently occupied by a single-story, 7,400-square-foot retail building with five commercial units, according to The Real Deal. The site can accommodate up to 74,540 square feet of commercial development. Neither demolition permit nor new building permits have yet been filed with the Department of Buildings. It’s not known when the tenants’ leases expire, and plans for the site have not been disclosed. The property owner is Joseph P. Day Realty Corporation.


334 West 36th Street

Reveal for 19-Story, 386-Key Hotel Project at 334 West 36th Street, Garment District

Back in June of 2015, Sam Chang’s Great Neck, N.Y.-based McSam Hotel Group disclosed plans to incorporate a portion of the façade of the six-story Christ Church, at 334-344 West 36th Street in the Garment District, into their planned hotel redevelopment. Now, a rendering of the project has been revealed by the New York Post. The latest building permits indicate a 19-story, 386-key hotel is in the works, which is somewhat scaled-down compared to early filings that listed as many as 566 rooms. It will encompass 132,210 square feet and is being designed by SoHo-based Gene Kaufman Architect. Unfortunately, the six-story parish house portion of the church is in the process of being demolished. It’s expected to be rebuilt with pre-fabricated materials. Guest amenities include a fitness center, meeting rooms, a ballroom, laundry facilities, a restaurant and bar, and storage for 12 bicycles.


16 East 39th Street

22-Story, 162-Key Hotel Filed At 16 East 39th Street, Midtown South

Sam Chang’s Great Neck-based McSam Hotel Group has filed applications for a 22-story, 162-key hotel at 16 East 39th Street, in Midtown South, located a few blocks from Bryant Park and Grand Central Terminal. The building would measure 73,073 square feet in its entirety, and 66,328 square feet would be used for hotel operations. The hotel rooms would each measure an average of around 400 square feet and a lounge would be located on the top floor. SoHo-based Gene Kaufman is the architect of record. The existing 12-story, thru-block office building was subdivided into separate tax lots in October, so we’re guessing only the the 39th Street half of the building is going to be demolished, along with an adjacent three-story townhouse at 14 East 39th Street. According to The Real Deal, the properties are currently owned by ClearRock Properties and Juster Properties.


351 West 38th Street

26-Story, 500-Key Hotel Revealed At 351 West 38th Street, Garment District

Towards the end of last summer, YIMBY reported on applications for a 21-story, 400-key hotel at 338 West 39th Street, in the Garment District. That building will be developed by Sam Chang’s McSam Hotel Group on the 39th Street side of the block-thru site, and Quadrum Global is planning to develop a separate hotel on the site’s southern half, fronting 38th Street. According to The Real Deal, Quadrum Global plans a 26-story, 500-key hotel, which Marvel Architects is designing. Each hotel is expected to measure roughly 125,000 square feet, and the existing commercial building will be demolished next year move out next year.



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