Sam Chang's McSam Hotel Group Secures $11.2M Loan For College Point Mixed Use Condominium

The mixed-use condominium located at 14-34 110th Street in College Point, Queens has recently been involved in a closed property transaction. The property, owned by McSam Hotel Group, obtained a loan from Sterling National Bank in the amount of $11,200,000. The building has a total square footage of 64,000 and consists of 34 residential units and 13 commercial units. Situated on a lot measuring 100 feet by 649 feet, this property offers a unique mix of residential and commercial spaces.

Summary of transaction details

• Property Type: Mixed Use Condominium
• Loan Amount: $11,200,000
• Square Footage: 64,000
• Number of Units: 47 (34 Residential, 13 Commercial)
• Address: 14-34 110th Street, College Point, Queens
• Market: College Point, Queens

In this transaction, McSam Hotel Group, the landlord, secured a loan from Sterling National Bank. The loan amount of $11,200,000 will contribute to the development and management of the mixed-use condominium. The property, which includes 34 residential units and 13 commercial units, is located at 14-34 110th Street in College Point, Queens. The loan will support the ongoing operations and potential future expansion of this unique property.