Sam Chang Scoops Up Holiday Inn LaGuardia for $38M

Excerpt from The Real Deal: Hotelier Sam Chang’s bet on the hotel market around LaGuardia Airport is taking flight.

Chang’s Great Neck-based McSam Hotel Group paid $37.6 million for the Holiday Inn LaGuardia Airport in Queens, property records show. The seller was hotelier Michael Pomeranc, who purchased the property in 1999.

The eight-story, 214-key hotel, located at 37-10 114th Street in Corona, spans 118,300 square feet, according to Real Capital Analytics.

Chang secured a $21 million loan from Maxim Capital Group to finance the deal, according to public records.

Full article:
https://therealdeal.com/2016/08/25/sam-chang-scoops-up-holiday-inn-laguardia-for-38m/