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Old Posted Sep 25, 2015, 10:22 PM
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Lam Group Breaks Ground on Virgin Hotel in NoMad

LIAM LA GUERRE
SEPT. 25, 2015

Quote:
Developer Lam Group broke ground today on its 39-story, 465-key Virgin Hotel, slated for Broadway between West 29th and West 30th Streets in NoMad.

Architecture firm VOA Associates has designed the steel and glass tower, which is expected to open in 2018, according to a news release. The cost of construction was not disclosed.

The 500,000-square-foot will include 30,000 square feet of space for amenities such as a banquet hall, meeting spaces, conference rooms, open workspace, restaurants, a rooftop skybar, and a pool and spa.

”The Virgin Hotel New York’s distinctive look is sure to play a key role in the NoMad neighborhood’s transformation process,” Len Cerame, a managing principal of VOA Associates, said in the release.

In 2011 and 2012, Lam Group bought 1227 Broadway, 1225 Broadway and 1205 Broadway, across from the trendy Ace Hotel, for $88 million, as Commercial Observer previously reported. A spokeswoman for Lam Group did not return requests for comment.

The Virgin Hotel location will have 90,000 square feet of retail at the base of the tower, which is being marketed by Newmark Grubb Knight Frank’s Mitch Friedel, Adam Weinblatt and Reed Zukerman.