Lee Fung Fong, Henry Zheng pay $27.2M for Senton Hotel in NoMad

Lee Fung Fong and Henry Zheng through the entity Stayway Holding Group LLC paid $27.2 million to Calvin Kamuluddin through the entity Senton Hotel West Corp. for the Senton Hotel (H3) at 39 West 27th Street in NoMad, Manhattan. The expected use is cash flowing.
The deal closed on February 27, 2026 and was recorded on March 9, 2026. The property has 26,047 square feet of built space and 23,356 square feet of additional air rights for a total buildable of 49,380 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $1,045 and the price per buildable square foot is $551 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Calvin Kamuluddin was Calvin Kamuluddin. The signatory for Lee Fung Fong and Henry Zheng was Lee Fung Fong and Henry Zheng. The contract date was August 18, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Lee Fung Fong had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Calvin Kamuluddin had not purchased any other properties and had not sold any properties over the same time period. The former owner according to the Department of Housing Preservation and Development is Calvin Kamuluddin, head officer. The business entity is Senton Hotel West Corp. The 26,047-square-foot property generated revenue of $1.6 million or $61 per square foot, according to the most recent income and expense figures.

The property

The hotel building in NoMad has 26,047 square feet of built space and 23,356 square feet of additional air rights for a total buildable of 49,380 square feet according to a PincusCo analysis of city data. The parcel has frontage of 50 feet and is 98 feet deep with a total lot size of 4,938 square feet. The zoning is M1-6 which allows for up to 10 times floor area ratio (FAR) for manufacturing The property is in the Madison Square North Historic District. The city-designated market value for the property in 2022 is $3.5 million. The property has 71 rent regulated units according to city tax records from 2023.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has received one DOB violation and $600 in OATH penalties in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In NoMad, The majority, or 66 percent of the 13 million square feet of commercial built space are office buildings, with hotel buildings next occupying 15 percent of the space. In sales, NoMad has 1.6 times the average sales volume among other neighborhoods with $520.2 million in sales volume in the last two years and is the 19th highest in Manhattan. For development, NoMad has 2 times the average amount of major developments relative to other neighborhoods and is the 11th highest in Manhattan. It had 3.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 24 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 19 of the 36 commercial properties representing 1,051,660 square feet of the 1,347,539 square feet. The largest owner is Greystar, followed by Yucaipa Companies and then Savanna.
On the tax block, there was one new building construction project filed totaling 24,325 square feet. It is a 52-unit, 24,325 square-foot hotel/dormitory/shelter (R-1) building submitted by Ezra Aini with plans filed May 19, 2014 and permitted December 14, 2020.

The majority, or 58 percent of the 1.3 million square feet of built space are office buildings, with elevator buildings next occupying 23 percent of the space.

The buyer

The PincusCo database currently indicates that Henry Zheng owned at least two commercial properties in New York City with 37,281 square feet and a city-determined market value of $12.6 million. (Market value is typically about 50% of actual value.) The portfolio has $17.2 million in debt, borrowed from Royal Business Bank. Within the portfolio, the bulk, or 51 percent of the 37,281 square feet of built space are retail properties, with hotel properties next occupying 49 percent of the space. The bulk, or 51 percent of the built space, is in Queens, with Manhattan next at 49 percent of the space.
The PincusCo database currently indicates that Lee Fung Fong owned at least one commercial property in New York City with 15,700 square feet and a city-determined market value of $1.5 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single industrial property. It is located in Brooklyn.

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