Eastern Consolidated has arranged the $50.75 million sale of 334-344 West 36th St., owned and occupied by the Post Graduate Center for Mental Health, to Sam Chang's McSam Hotel Group.
Brian Ezratty, vice chairman and principal, and Chad Sinsheimer, director, of Eastern Consolidated, dealt with the seller in the transaction; Ezratty procured the buyer as well.
Situated between Eighth and Ninth Aves., the six-story, 58,634 s/f Garment District building - zoned for 123,440 buildable s/f - is located two blocks from Penn Station and Madison Sq. Garden.
"Mr. Chang was immediately attracted to this offering, which is well-positioned for hotel or residential conversion," Ezratty said. "The property is a great addition to his growing portfolio in N.Y.C. and will complement the ten hotels he has developed in Midtown West."
Bryan Wynn, of the McSam Hotel Group was the attorney for the buyer. Michael Lehmann, of Manatt, Phelps & Phillips, LLP was the attorney for the seller. Tags: