The former Radisson Hotel New York Wall Street sold this month for $94.5 million.
CoStar data shows owner McSam Hotel Group sold the 289-key former hotel turned homeless shelter Dec. 12 to Slate Property Group. The hotel was built in 1902 and renovated in 2018.
Great Neck, New York-based McSam Hotel Group is one of the largest hotel developers in New York City. McSam Chairman Sam Chang founded the company in 2001. CoStar records show McSam Hotel Group bought the property in January 2017 for $95 million from Rockwood Capital. Prior to that, it was owned by BNY Mellon, which sold it to Rockwood for $102.25 million in July 2006.
New York City-based Slate Property Group is an owner, operator, developer and lender that focuses on multifamily properties.
The hotel became a shelter for the unhoused during the early days of the COVID-19 pandemic in 2020. CBS News reported in April 2022 the city planned to close the shelter, which housed about 200 people at the time. The Tribecca Citizen reported in May 2023 the property was being used to house migrants, as many hotels did to deal with the influx of refugees and asylum seekers coming to the city.
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