Sam Chang, who announced in 2019 that he was going to sell more than 20 NYC hotels and retire—reportedly so he can spend more time on his passion, which is pigeon racing—has offloaded another $450M in NYC assets located in the Times Square area.
Chang's McSam Hotel Group sold a commercial condo at 150 West 48th Street to Houston-based Dauntless Capital Partners for $290M. Magna Hospitality Group, based in Rhode Island, paid $160M to buy two Hilton-branded hotels, also at 150 West 48th Street.
The 38-story building at 150 W. 48th is home to three of Hilton's brands, including Hampton Inn, Home 2 Suites and Motto Hotel, encompassing a total of more than 1,000 rooms.
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