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.
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