Olshan Leads Client in Development Ground Lease With Hotelier Sam Chang

The Real Deal reported that Champion Parking has ground leased the parking lot site at 111 East 24th Street, between Park South and Lexington Avenue, in a 99-year triple-net lease to hotelier Sam Chang’s McSam Hotel Group. McSam is planning to build a 38,400-square-foot hotel with 120 rooms. Olshan Real Estate Law attorneys Samuel Ross and Dov Brandstatter represented the ground lessor in the ground lease to the developer.