Sam Chang is snapping up a vacant Koreatown development site at 292 Fifth Avenue from fellow hotelier Richard Born for $42.5 million. The site can accommodate around 70,000 square feet of space, Crain’s reported. Born — who heads BD Hotels and is known for developing places like the Mercer and Stanhope Hotels — bought the three adjacent buildings at 292, 294 and 296 Fifth Avenue in 2013. He had torn them down, and had filed … [more]