Sam Chang Secures $121M Loan For 45-Story Hotel Development At 140 West 28th Street, NY

The property at 140 West 28th Street in New York has been involved in a loan transaction. The landlord, Sam Chang, is planning to build a 45-story, 526-key hotel on the property. The deal has been financed by two lenders, Bank of the Ozarks and Square Mile Capital, with a total loan amount of $121 million. Bank of the Ozarks provided $97.5 million, while Square Mile Capital contributed $23.9 million.

Summary of transation details

• Property Type: Loan
• Transaction Amount: $121M
• Date: January 3, 2018
• Address: 140 West 28th Street, NY
• Landlord: Sam Chang
• Lenders: Bank of the Ozarks & Square Mile Capital
• Broker: Eastern Consolidated’s James Murad & Adam Hakim

Eastern Consolidated's James Murad and Adam Hakim served as the brokers in this transaction, representing the parties involved. It is worth noting that Sam Chang, the landlord, is planning to develop a 45-story, 526-key hotel on the property with the loan funds.