McSam Hotel Group and Highgate pay $35M to Rockefeller Group as part of $140M hotel site buy in Times Square

Sam Chang’s McSam Hotel Group and hotel firm Highgate through the entity 157 West 47th Street Hotel Owner LP paid Rockefeller Group’s 157 West 47th Street TS Hotel LLC $34.6 million for 157 West 47th Street in Times Square. The deal closed on October 25, 2019, and was recorded on November 7, 2019.

The total sale price will amount to $140 million, according to Crain’s, which reported on the sale of 150 West 48th Street, which is the address for the combined parcels. Rockefeller Group assembled the site over several years. JLL’s Bob Knakal, Jonathan Hageman and Jeff Davis worked on the deal.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There was one renovation/alteration project (A2) applied for with a total estimated value of $75,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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