Sam Chang Scoops Up Holiday Inn LaGuardia for $38M

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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.

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