Sam Chang sells Hudson Square lease to hotel investor for $50M

Sam Chang’s McSam Group has sold the lease on a development site in Hudson Square to Eagle Point Hotel Partners, a New-York based hotel investment firm, for just under $50 million, city records filed Feb. 20 show.  The development parcel — which covers lots at 2 Renwick Street, 231 Hudson Street and 503 Canal Street — is owned by Ponte Equities, which leased the land to McSam in July 2011. In collaboration with partner Barone Management and architect Gene Kaufman, McSam has been building a 160-room hotel at the site, for which it purchased air rights from Rosar Realty in October...