Square Mile Capital Provides $75MM Preferred Equity For Times Square Hotel Construction

Adam Hakim, Sam Chang, and James Murad are featured in an image related to a loan transaction that took place on April 23, 2021. The property in question is located at 150 West 48th Street in Times Square. This development site has a buildable square footage (BSF) of 323,471 and consists of 1,046 rooms.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $75,000,000
• Address: 150 West 48th Street
• Market: Times Square
• Asset Type: Development Site
• BSF: 323,471
• Rooms: 1,046

The lender in this transaction is Square Mile Capital, while the landlord is McSam Hotel Group, represented by Sam Chang. The brokers responsible for the deal are Adam Hakim and James Murad of Meridian Capital Group.

It is worth noting that the loan amount for this transaction is $75,000,000. The purpose of this loan is to provide preferred equity for the construction of a hotel in Times Square.