McSam Hotel Group

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McSam Hotel Group portfolio

$276.9 million* – hotel 83.0%, condo 9.0%; Manhattan 86.0%, Queens 13.0%

224th largest portfolio by dollar value

1,184,568 sqft – hotel 85.0%, condo 7.0%;

296th largest by SF

32 properties – Manhattan 50%, Queens 50%

308th largest

17 residential units – Manhattan 100.0%, Bronx 0.0%

3398th largest by residential units

0 foreclosures, 0 bankruptcies, 1 other court case.

Company Activity past 24 months:

Seller company: 9 for $935.9 million

Borrower company: 7 for $340.4 million

Top Ten Associated Companies:

Sterling National Bank (6), Goldman Sachs (4), Deutsche Bank (3), Oak Hill Advisors (2), Rockefeller Group (2), Jasmin Patel (2), Magna Hospitality Group (2), Slate Property Group (2), Masterworks Development (1), Solil Management (1)

Top Ten Associated People:

Gregory Weingart (4), Michael A. Savarese (2), Jennifer Adams Shepler (2), David Addison (2), Gregory S. Rubin (1), Jane Goldman (1), Daniel Rabinowitz (1), Mary Willis White (1), Sushil Patel (1), Priyank Patel (1)

Recent activity as company:

• McSam Hotel Group and Andrew Rufail sold 52 William Street, Financial District, Manhattan for $94.5 million to Slate Property Group on December 23, 2024.

• McSam Hotel Group borrowed $65 million from Deutsche Bank for 38-37 9th Street, Long Island City, Queens on October 25, 2024.

• McSam Hotel Group sold 38-21 9th Street, Long Island City, Queens for $55.6 million to Priyank N. Patel, Jasmin Patel and LeTap Group on September 25, 2024.

• McSam Hotel Group borrowed $20.3 million from Golden Bank for 131-32 40th Road, 131-40 40th Road, 131-38 40th Road, 131-36 40th Road, 131-30 40th Road, and others, Flushing, Queens on May 10, 2024.

• McSam Hotel Group sold 38-11 10th Street, Long Island City, Queens for $40.5 million to Jasmin Patel on March 28, 2024.

• McSam Hotel Group and Gene Kaufman borrowed $28 million from Maxim Capital Group for 224 West 47th Street, Times Square, Manhattan on March 18, 2024.

• McSam Hotel Group borrowed $14 million from Webster Bank for 108-68 Roosevelt Avenue and 108-68 Roosevelt Avenue, None, Queens on February 29, 2024.

• McSam Hotel Group borrowed $58.1 million from Jemm Lending for N/A 135th Avenue, N/A 135th Avenue, N/A 135th Avenue, and N/A 135th Avenue, None, Queens on January 17, 2024.

• McSam Hotel Group sold 144-02 135th Avenue, South Ozone Park, Queens for $64 million to Slate Property Group and RiseBoro Community Partnership on January 16, 2024.

• McSam Hotel Group borrowed $120 million from Deutsche Bank for 346-354 West 40th Street, Garment District, Manhattan on December 14, 2023.