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New York Mixed-Use

Sam Chang’s About-Face in Flushing

McSam Hotel Group head Sam Chang has changed his tune on Flushing, where he paid $26M in 2006 for a development site at 40-70 Delong St, zoned for about 400k SF of commercial space.

The site, slated to be the future home of a mixed-use project called Sky View Parc, recently went under contract for $44.5M.

Last month, the developer told The Real Deal “the market is hot in Flushing right now.” Yesterday, he reportedly told the Commercial Observer, “I don’t believe in this market.” [CO]

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