Sam Chang’s McSam Hotel Group sold the Holiday Inn Express at 232 West 29th Street in Chelsea for 59.8 m to private equity firm Prospect Ridge, which secured a 51 m loan from First Citizens Bank. The 15-story, 228-room hotel fetched over $262,000 per key. The deal’s seller, listed as Brisam Group, is tied to Chang and Malaysia-based KSL Group, which acquired the property in a 2023 transaction.
Sam Chang’s McSam Hotel Group
