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Thread: Sam Chang / McSam Hotels

  1. #211

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    Can we please declare a jihad on this McTerrorist?

  2. #212
    Build the Tower Verre antinimby's Avatar
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    Quote Originally Posted by scumonkey View Post
    CUT HIM NO SLACK!
    Or better yet, just CUT him!

  3. #213

    Default Why does everyone hate Sam Chang/Mcsam Hotel?

    Just wondering,

    Like whats the deal with the guy? Is he that bad? or is it a case of just good ole fashioned envy or does he really have issues from an ethical perspective? I mean as long as he's a straight shooter business wise the rest is koscher right?

    Sol

  4. #214
    Disgruntled Optimist lofter1's Avatar
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    Oh, Sol ... clearly you've not followed the work of Mr. McSam.

    Read up and then let's hear back from you.

    btw: His financing is clear as mud. If you can offer anything to clarify his sources it would be appreciated.

  5. #215

    Default I've actually read your excellent posts...

    Confidentiality prevents me from saying much however I'll say whatever is public knowledge, I do want to thank you for your posts regarding ACRIS and so on, my back ground is in Private Equity and Investment Banking, dabbled over the years on some International Real Estate deals and development projects, NYC R.E is a whole other ball game for me

    God Bless Crocker Liu, still have some of his excellent notes and street wisdom on hand to guide me through these murky Hudson like waters.

    So what do I know from my research so far...(you probably know it already) that Credit Suisse was a major line of debt/credit financing for him (dried up though), his past where he worked in Japan and Taiwan is very interesting, somehow Jackie Chan's old skool HK movies with Chinese Triads/Yakuza comes to mind but then again I have a vivid imagination LooooL however anyone at this level in the game wearing a Diamond Studded P I M P Rolee and Diamond Ring and not a Patek Philippe does lead me to question the guy's background, taste and inclination. I know his Hotels speak volumes about his "excellent" eye for beauty, form and aesthetic.

    His legal structures are interesting.... Metro Hotel One LLC, Metro Hotel Two LLC and so on, makes me wonder though why is he using these structures? Can't be for tax reasons.... Why not keep it under Mcsam's Hotel LLC? Is it because John Lam partners up with him in these structures? or maybe a myriad of other investors??? Don't know yet, trying to figure that out....need more time to check that out...if you know where I can check legal records of shareholders and such please do tell me, if not its cool I am sure I'll figure it out on my own but if you can save me some time that will be gr8.

    Whats of more concern to me is whether the construction he is involved in is to bearable market standards, i.e. will they last atleast 10 or 15 years?

    Saw some articles and posts (unsubstantiated) that he doesnt have his contractors waterproof the steel skeletal structures...I guess to know for sure you'll need to hire a third party engineering firm to check out if the construction is sound. Whats your take? Any suggestions recommendations?

    I do have to agree that the designs are for lack of a better word quite "yucky"

    But then again maybe his media savvy, explosive growth post 2003 (never heard of him prior to that) and rapid flipping has been him an easy target or do you think there is more to it?

    Respectfully Yours,

    Sol




    Quote Originally Posted by lofter1 View Post
    Oh, Sol ... clearly you've not followed the work of Mr. McSam.

    Read up and then let's hear back from you.

    btw: His financing is clear as mud. If you can offer anything to clarify his sources it would be appreciated.

  6. #216

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    well, mc sam also has a reputation for poor and unsafe practices... there is currently a stop work order on the 99 washington site- excavation damaging neighboring building's foundation. think it's 103/moran's that's damaged? 103 also just put up a sign for 'availability' - are they finally selling or are all of the renters moving out due to horrific construction noise?

  7. #217

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    Quote Originally Posted by arezzo View Post
    Just wondering,

    Like whats the deal with the guy? Is he that bad? or is it a case of just good ole fashioned envy or does he really have issues from an ethical perspective? I mean as long as he's a straight shooter business wise the rest is koscher right?
    Aesthetics.



    (Makes people into haters.)

  8. #218

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    Quote Originally Posted by antinimby View Post
    Oh


    My


    God!


    That was pretty much my reaction when I laid eyes on the below from Kaufman. Could it be that Kaufman, by a one in a million chance, in that rarest of rare cases where even a blind squirrel finds a nut and where one of his work actually does NOT look terrible and depending on your taste, maybe even good-looking?

    You decide...



    Hey look, the base even follows the streetwall!
    lol, I found this rendering a while back before the site was sold to McSam. This design was by Workshop for Architects. I doubt Chang bought the design.

  9. #219
    Build the Tower Verre antinimby's Avatar
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    Figures. It was hard to believe that Kaufman could be decent when it comes to McSam hotels.

  10. #220
    Disgruntled Optimist lofter1's Avatar
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    McSam / Chang backs away from pulling this one out of the newly-extended NoHo Historic District.

    Was there a back room deal? Time will tell ...

    Quote Originally Posted by lofter1 View Post

    Sam Chang Buys Whitehouse Hotel for $7.8 M.

    Can anyone in the New York City hotel business keep up with Sam Chang?

    On June 11, the prolific hotelier purchased the Whitehouse Hotel at 338 Bowery for $7.8 million ....

    ...The three-story Whitehouse Hotel, known for its $30 room rates and international back-packing clientele, sits directly across the street from the recently opened Bowery Hotel.
    Noho flophouse flap takes a twist with hotel plan


    The White House flophouse, second from left, has been included
    in the extension of the Noho Historic District, but its owner
    hopes to develop the site as a nine-story hotel.

    The Villager
    By Albert Amateau
    Volume 78 / Number 16
    September 17 - 23, 2008

    The City Council gave final approval on Sept. 3 to the three-block extension of the Noho Historic District, including a four-story lodging house on the Bowery that dates from about 1916 and still has 22 permanent tenants.

    The extension area — which started out as an enclave for well-to-do families — is bounded on the west by Lafayette St., on the east by the Bowery, on the north by E. Fourth St. and on the south by Bond St. It includes 56 buildings and a midblock parking lot to the south and east of the existing Noho Historic District. The extension passed the council with only three dissenting votes after the owner of the White House, the lodging house at 338 Bowery, withdrew objections to the building being included in the district.

    But the building’s owner, who is affiliated with the hotel developer Sam Chang, intends to make a hardship application to the Landmarks Preservation Commission to demolish the White House and replace it with a nine-story hotel.

    “We withdrew opposition to the district after City Councilmember Alan Gerson’s extraordinary efforts at bringing us, the community and the Landmarks Commission together to understand the unique structural issues,” said Patrick Jones, land use lawyer and spokesperson for Metro Sixteen Hotel LLC, the Chang affiliate that owns the building, in an e-mail. “The [White House] may be in worse condition than any other [building] in the district — the anomalous flophouse is on its last legs,” added Jones.

    Gerson said he wanted to preserve an important part of the neighborhood and protect the mostly elderly residents remaining in the building, which is located near Great Jones St.

    “They are living in some of the worst conditions in the district and they deserve better,” Gerson said.

    The White House owner has agreed to improve living condition at 338 Bowery immediately to the extent possible and has agreed to work with community groups and councilmembers to explore ways to find alternate homes for existing residents, Gerson said.

    But neither the owner nor Gerson was more specific about permanent homes for the tenants. Gerson suggested the possibility of a buyout that would help tenants pay for assisted-living accommodations. Jones said tenants had testified at a City Council hearing that they wanted to relocate and that they viewed the redevelopment of the White House as their best opportunity.

    “We have begun working with Gerson’s staff on how best to accomplish this,” Jones said of plans to relocate the tenants.

    In a letter to Gerson, the Landmarks Preservation Commission laid out the timeline for a hardship application that could take between six and nine months for final approval, but there could be no assurance on how the commission would decide.

    Zella Jones, president of the Noho Neighborhood Association, said the association’s priority was to include the White House in the Noho Historic District Extension, but that at the same time neighbors wanted to make sure the building’s residents would have places to live.

    “We were between the devil and a hard place,” Jones said. “The developer said conditions were so bad that the building couldn’t be rehabilitated. So we worked on an agreement to support taking the White House out of the district if they agreed to a whole bunch of conditions for the redevelopment. But just before the council met, the developer said, ‘Whoa, this is too much. We’ll stay in the district,’” Jones recalled. The association finally agreed that it wouldn’t object to the hardship application if the developer agreed to take care of the tenants, she added.

    At least, with the property included in the district, if Landmarks granted the hardship and approved the demolition, any replacement would be subject to a certificate of appropriateness review by the commission, she said.

    But other preservation advocates said they would oppose the developer’s hardship application.

    “It’s precipitous,” said Simeon Bankoff, director of the Historic Districts Council, regarding the agreement. He questioned the wisdom of agreeing to support a hardship application before the application is drafted and submitted to the Landmarks Preservation Commission.

    Andrew Berman, director of the Greenwich Village Society for Historic Preservation, said he was skeptical about the developer’s commitment to the welfare of low-income tenants in the building.

    “I also don’t buy the either/or proposition that you have to demolish the building or leave the tenants without a place to live,” he said. “There have been several restorations of old hotels that provided apartments for the original residents.”

    Berman noted that despite the owner’s contention that the building is not in good enough condition to preserve, the White House Web site markets the building as a “really cool” student hostel where single rooms rent as low as $26.79 per night, doubles can be rented for $50.80 and triples as low as $67.30.

    Other Web sites describe the White House, or Whitehouse, as a “cubicle hostel” and as having “the tiniest hotel room in the world.”

  11. #221
    Build the Tower Verre antinimby's Avatar
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    They seem to come in three's here. Ugh...






    You knew the third one wouldn't be far behind...



  12. #222

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    That first threesome isn't so bad.

    I'm grasping at straws.

  13. #223

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    yeah...bad is an understatement!

  14. #224

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    Curbed.com

    October 13, 2008

    Development Watch: 46 Nevins Street


    We're not sure if Sam Chang's plans for a 12-story, 182-unit hotel at the corner of Nevins and Schermerhorn Streets will go forward in this environment. But some progress (if you want to call it that) has been made, at least in the form of demolition permits that were issued in August. The building still stands, though. Some of Mcsam's other properties (that's the name of Chang's company, not a commentary) have endured stop work orders and partial collapses during construction, though he reportedly made a killing selling the nearby Comfort Inn to a Rhode Island group last year. So far, aside from a few disapproved permits, this one seems to attract less controversy. Unless you guys know more... GMAP P*Shark DOB

  15. #225
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    Thumbs down

    Lookie here, just to the east of Herald Square we've got a Poon and a Kaufman standing side-by-side.

    The Poon at 63 W 35 St. is the taller (31 stories), tan-colored one and the Kaufman at 57 W 35 St. is the shorter (20 stories), red one.












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