Cole Schotz Represents The Mcsam Hotel Group in $250m Financing of Times Square Hotel Project
Cole Schotz P.C. represented the Mcsam Hotel Group in obtaining $250 million in financing for a 1,043-key, three-flag hotel near Times Square, located at 150 W. 48th St. The firm represented the Mcsam Hotel Group in negotiation of a $210 million first mortgage loan and a $40 million mezzanine loan from S3 Capital.
The Mcsam Hotel Group acquired the vacant land in Times Square from the Rockefeller Group for the purposes of constructing a hotel. The Mcsam Hotel Group is one of the largest hotel developers in New York City.
The Cole Schotz team included members Leo V. Leyva, Christopher J. Caslin and Danielle M. Pasquariello, with support from associates Cristina M. Riggio and Samantha Epstein.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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