Updated Nov 26, 2025
Sam Chang Of McSam Hotel Group Secures $55M Construction Loan From Metropolitan Commercial Bank In Queens
143 02 135th Avenue
$55,000,000
Building Size
—
Asset Type
Industrial
Closing
Oct 24, 2025
About this deal
AI
The property asset involved in the transaction is an industrial property located at 143-02 135th Avenue in South Ozone Park, Queens. The total loan amount secured for this project is $55,000,000, classified as a construction loan, which replaces $19.5 million in prior debt from Jemm Capital Partners.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $55,000,000
- Lender: Metropolitan Commercial Bank
- Landlord: Sam Chang - McSam Hotel Group
This deal highlights the involvement of Sam Chang, who represents McSam Hotel Group. The loan facilitated by Metropolitan Commercial Bank is intended for the development of the industrial site, marking a significant step in the ongoing project.
On the Map
$55,000,000
Industrial
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Players
Brooklyn Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93