Reunited and it feels so good: Sam Chang buys back Midtown hotel

Sam Chang bought back a Midtown West hotel he developed and sold in 2010. The head of McSam Hotel Group is paying $29.2 million for the Comfort Inn at 548 West 48th Street, property records show. M&R Hotel Management appears to be the seller. The company could not immediately be reached for comment. Chang said he made the buy because surging construction costs make new development less appealing. “I just can’t build a hotel for […]

Source: Real Estate

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