By Roland Li
Hotelier Sam Chang’s Metro Six Hotel LLC, an affiliate of McSam Hotel Group, has sold a Holiday Inn Express at 126 Water Street for $36.7 million, according to city records.
The buyer was a subsidiary of Pennsylvania-based Hersha Hospitality, which owns fourteen other hotels in the city.
The 26-story hotel, located at the corner of Wall Street, was completed in the summer of 2010 and has 112 guest rooms, according to the Lower Manhattan Construction Command Center.
The site was formerly a two-story retail building with a restaurant, according to a photograph from the Department of Buildings. In 2005, that property was sold to to Chang by John Joyce for $9.5 million, according to city records. A lis pendens, signaling the start of a foreclosure, was filed by Poletech Co Inc. against Metro Six Hotel LLC in November 2010, according to PropertyShark.
Officials at McSam Hotel Group and Hersha Hospitality didn’t immediately return request for comment.