Sam Chang’s Whitehouse Hotel in Contract for $12 M.

338-bowerySam Chang is selling Bowery’s Whitehouse Hotel and Hostel of New York, at 338 Bowery, and it is contract for $12 million, sources familiar with the deal told Commercial Observer. It wasn’t immediately clear who the buyer was.

The prolific hotelier, affiliated with McSam Hotel Group, bought the property between Second and Third Streets for $7.8 million in 2007. A year later an affiliate of his sought to replace the structure with a nine-story hotel. Read more on Commercial Observer.

Sam Chang’s Whitehouse Hotel in Contract for $12 M.