, covering New York City's Madison Square Park & Flatiron

Entries for the ‘Hotels’ Category

Battle brewing at the Flatiron Hotel

flatiron hotel fishtankBehind the scenes at the Flatiron Hotel (1141 Broadway at 26th Street) appears to be a mess these days, according to an article in the Real Deal. It seems the debt holders of the property are fighting with the current owners and management company over rent payments.

What’s going on between the debt holders, the multiple owners, and the property management company is so confusing with the Supreme Court involved, direct rent payments requested, illegal scaffolding, and more allegations, that we suggest you read the Real Deal article for more info.

You may recall that the guy behind Hotel Toshi, actor, businessman and underground party hoster Robert ‘Toshi’ Chan, supposedly took over management of the newly created Flatiron Hotel a couple years back. You may also recall they have a 20,000 gallon aquarium in the lobby.

The MAve hotel in Nomad sells for 28.5 million

Mave_hotel-282x300The boutique MAve hotel, located just north of Madison Square Park at 62 Madison Avenue has sold for for $28.5 million according to the Real Deal.

Considering it was at one point facing foreclosure and then bankruptcy, this is a positive development for the building.

The 72-room contemporary hotel has been around since 2009 and was one of the first of the new boutiques to open in the Nomad neighborhood.

Marriott Edition Hotel no more – Met Life Clock Tower to be sold again

met life clock tower constructionAfter years of being bought and sold, with plans for condos (twice) and then a hotel, we finally thought the Met Life Clock Tower building (5 Madison Avenue) off of Madison Square Park finally had its purpose again when it was announced it would become a Marriott Edition Hotel. Well now we learn from Bloomberg News that Marriott will sell the building, likely to the Abu Dhabi Investment Authority, along with 2 other Edition Hotels, for $800 million. Word is that the deal will not finalize until construction is complete (2015), and if history is any indication, it may have a completely new owner and use by then. It has sort of become one of the ultimate flipping commercial properties in New York City.

Before it was to become an Edition Hotel, the building was owned by Africa Israel and was the subject of several proposed plans in the past, including very large (4,000+ square foot) ultra-high-end condos designed by Donatella Versace, and then revised to be condos about half the size with a new designer involved, and then a deal with a group including Tommy Hilfiger that intended to turn part of it into a hotel.

The Met Life Clock Tower was built in 1909 and was at one time the world’s tallest building.

SLS Hotel to open at 444 Park Avenue South

Via The Real Deal, we learn that a Sam Nazarian SLS Hotel will be going in at 444 Park Avenue South (at 30th Street) with 190 rooms, 3 bars including a rooftop lounge, and a restaurant with Jose Andres (minibar, The Bazaar, Tres, Jaleo, etc) in the role of culinary director. Sam Nazarian is also involved with restaurant Katsuya, so perhaps we will see the first NYC outpost of the L.A. favorite in the new hotel. They are currently expanding and improving the 14-floor office building and expect to open in 2014.444 park avenue south

Virgin Hotel to go in at 29th and Broadway in Nomad

Originally we had heard the new mega-demolition and hotel developments to take place on a block of Broadway between 29th and 30th Streets in Nomad would be a Starwood Aloft and a Marriott Renaissance, but it seems now that one of the hotels (on the northwest corner of 29th and Broadway) will be the first New York City location of a Virgin Hotel. The 4-star hotel will open in 2016, and have 300 rooms, be tech savvy, have high-end retail space, and food and beverage options. Virgin hopes to have hotels in NYC, Chicago, SF, LA, Miami, DC, and Boston.

We are delighted to enter the New York market and specifically to play a part in continuing the NoMad neighborhood’s growth as a dynamic destination,” stated Virgin Hotels CEO Raul Lea.

Hotel Developer John Lam’s Lam Group bought the block in Nomad on Broadway by buying the buildings at 1205 Broadway (See photo below), 1225 Broadway, and 1227 Broadway. The hotel boom on Broadway started with the Ace Hotel (Broadway and 29th Street), followed by the Flatiron Hotel (Broadway and 26th Street) and the Nomad Hotel (Broadway and 28th Street). The Broadway Plaza hotel was the only one in this stretch for years and recently they have made some improvements to their marquis likely to keep with the boutique development energy on these blocks.

With their central location just below Herald Square (and Times Square) and just above the beautiful Madison Square Park, it makes a lot of sense for the hoteliers to build in this forgotten area of the last 2 decades.

1205 broadway again


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