Here’s What the $10M-$20M NYC Investment Sales Market Looked Like Last Week: Sam Chang Buys Long Island City Development Site

In the world of mid-market New York City investment sales last week, Sam Chang bought a Long Island City development site and the Jograj family sold the location of the Mrs. Maxwell’s Bakery in East New York.


1.) Sam Chang’s McSam Hotel Group bought a development site in Long Island City for $10.2 million, or $90 per square foot. The parcel, at 38-47 9th Street between 38th and 40th avenues, would be the site of a hotel. The seller is an affiliate of film production company Broadway Stages. Chang’s other hotel projects in the neighborhood include 38-39 9th Street and 38-04 11th Street. Besen & Associates’ Dan Shapiro and Niko Berdzeni represented both sides of the transaction.


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