Sam Chang is the developers developer.
The prolific developer has secured a debt and equity package totaling $120 million to finance the construction a Hyatt Place Hotel in Midtown. The 25-story, 520-key property—being developed by Chang’s McSam Hotel Group—is located at 350 W. 39th St.
Eastern Consolidated’s capital advisory division Adam Hakim, managing director, and James Murad, director, handled the transaction, which includes a $95 million first mortgage with Bank of the Ozarks, and $25 million of preferred equity with Square Mile Capital Management.
