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Former McSam Condo Site Wants to Live Again for $5.2M

We thought that 397-401 East 8th Street (right) would be Sam Chang's triumphant return to the condo game back in 2007, when he purchased the site for $4.9 million. He planned to turn it into a six-and-a-half story residential condo, similar to his project at Avenue D and East 5th Street. Of course, things didn't quite work out that way?397-401 East 8th Street is still a vacant lot a few years later. But that could change! EV Grieve notices that the site is on the market again, at the slight markup of $5.2 million. And the site can accommodate an 11-story building, not just Sam Chang's smaller plan, according to the Eastern Consolidated folks marketing the property. "The neighborhood has become a very trendy enclave," claims the brokerbabble. Trendy enough to bring a successful condo project to Avenue D?
· Stalled development site on Eighth Street and Avenue D asking $5.2 MIllion [EVG]
· Sam Chang Now Buying Shit He Won't Even Go See [Curbed]