Sam Chang Secures $28M Construction Loan For Times Square Hotel Conversion

An office building with a square footage of 33,659 located at 224 West 47th Street in Times Square, Manhattan, was the subject of a $28 million renovation construction loan secured by McSam Hotel Group and Gene Kaufman, represented by Sam Chang. The lender for this deal was Adam Glick from Maxim Capital Group.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $28,000,000
• Address: 224 West 47th Street
• Market: Times Square, Manhattan
• Landlord: Sam Chang - McSam Hotel Group & Gene Kaufman
• Loan Type: Construction

Sam Chang, the broker representing McSam Hotel Group and Gene Kaufman, played a crucial role in securing the $28 million renovation construction loan from Maxim Capital Group to convert the office building into a hotel in the vibrant area of Times Square.