Times Square 974-Key Hotel Development In Contract to Sell
Hotel developer McSam Hotel Group has entered into contract to sell the currently under construction 974-key hotel at 150 West 48th Street. The pending sale price to an undisclosed buyer under the anonymous entity of Ny 48LLC was not announced for the midblock 300,941-square-foot hotel. Sale closing is the earlier of either the “date which is 30 days after the hotel has been ‘substantially completed” or “the first anniversary of the ‘Outside Completion Date’ according to the memorandum.”