Sam Chang Secures $110 Million Construction Loan For Hotel At 131-02 40th Road In Flushing
FINANCED
New York
See Similar DealsHotel
Financed 03/09/2026
FINANCED
Sam Chang Secures $110 Million Construction Loan For Hotel At 131-02 40th Road In Flushing
131-02 40th Road
See Similar DealsHotel
Financed 03/09/2026
Summary
NEW YORK
Asset Type:Hotel
Transaction Type:Loan
The property asset involved in this transaction is a hotel located at 131-02 40th Road in Flushing. The asset has 800 keys and is part of a construction loan arrangement with a total loan amount of $110,000,000.
Summary of transaction details:
- Property Type: Hotel
- Transaction Amount: $110,000,000
- Loan Type: Construction
- Lender: Adam Glick & Josh Greene - Maxim Capital Group; Matt Meltsner & Candace Chao - Jemm Capital Partners
- Landlord: Sam Chang
- Broker: Emanuel Westfried
The deal involves key individuals including Adam Glick and Josh Greene from Maxim Capital Group, as well as Matt Meltsner and Candace Chao from Jemm Capital Partners. The landlord of the property, Sam Chang, is also a significant participant in this transaction, with Emanuel Westfried serving as the broker facilitating the arrangement.
Players
LENDER
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$110,000,000.00
Monthly NOI$733,333.33
Monthly Debt Service$695,274.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions