Sam Chang’s McSam Hotel Group is in contract to sell its newly constructed Garment District Hotel to Magna Hospitality Group. The price for the 570-room hotel was undisclosed, according to PincusCo. The property at 338 West 36th Street has $185 million in debt. In the unlikely scenario that it sold for just the debt, that would still have been the fifth priciest Manhattan hotel sale last year. Last year, Magna also bought a hotel development […]
source https://therealdeal.com/2019/02/06/sam-chang-in-contract-to-sell-garment-district-hotel/
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