McSam Hotel Group receives TCO for 162-key hotel in Garment District

Sam Chang’s McSam Hotel Group, on March 12, was issued a temporary certificate of occupancy for construction of a 162-key, 66,270-square-foot Hyatt Centric hotel at 16 East 39th Street in the Garment District. Last month PIMCO bought $67.5 million in debt from Deutsche Bank which was secured by the development.

The plans, pre-filed on December 18, 2015, call for the construction of a 200-foot tall, 22-story hotel. The time from pre-file to TCO was five years and three months.

The project is described in the filings as: hereby filing for new 22-story hotel building.

The ground floor of the building has a hotel lobby, lounge, and bar area, according to the plans. Floors two through nine have nine rooms each per floor, floors 10 through 17 have eight rooms each per floor, the 18th floor has seven rooms, and floors 19 through 21 have six rooms each per floor. The 22nd floor has lounge and bar area. An exercise room, dining room, and kitchen are located in the building’s cellar.

Gene Kaufman designed the building.

According to a report, the boutique hotel was expected to open sometime in 2019. The delay was partially caused by a number of construction and design challenges.

The property was acquired with two other properties from ClearRock Properties and Juster Properties for $31.9 million on February 19, 2016.

Direct link to Acris document. LINK

Direct link to DOB document. LINK

Direct link to C of O document.LINK