Hiwin Group USA And McSam Hotel Group Secure $110 Million Construction Loan For Flushing Hotel

131-02 40th Road

$110,000,000

$199/SF

Building Size

551,193 SF

Asset Type

MultiFamily

Closing

Mar 9, 2026

AI

The property asset involved is a multifamily development located at 131-02 40th Road in Flushing, Queens. The total built space encompasses 551,193 square feet, with plans for a 19-story, 469-key hotel. The transaction includes 107,666 square feet of air rights. The loan amount is $110,000,000 for construction financing.

Summary of transaction details:

Property Type: Multifamily
Transaction Amount: $110,000,000
Asset Address: 131-02 40th Road
Market: Flushing, Queens
Square Footage: 551,193
Units: 162
Lender: Maxim Capital Group
Landlord: Anthony Hu - Hiwin Group USA & Sam Chang - McSam Hotel Group

Developers of the project include Hiwin Group USA and McSam Hotel Group, led by Sam Chang. They are tasked with the construction of the hotel on this property, which officially closed on March 9, 2026.

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