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Deals & Dealmakers

New Jersey developer plans to build 32-story hotel in Chelsea

New Jersey developer Frank Ng is planning to build a 32-story hotel at 132 West 28th Street in Chelsea.

According to a permit application filed with the Department of Buildings, Ng is looking to build a 203-key hotel. Plans call for 95,158 s/f of commercial space and 30,086 s/f of residential space. If approved as proposed, the tower would be 326 feet tall.

The planned structure will have eight rooms each between floors four to 17 and between floors 19 to 28. There will be three rooms on the 29th floor and four rooms on the third floor. Ng plans to install a hotel lounge and bar at the ground floor and a fitness center on the second floor. There will also be conference rooms and a club on the 30th floor.

The site previously contained a five-story rental property, according to StreetEasy. Ng bought the building under the name 28th Street Properties for $14.07 million in 2007.

The property was part of a West 28th Street assemblage that Ng put up for sale in 2014. The adjacent buildings, located at 132-144 West 28th Street between Sixth and Seventh Avenues, had an asking price of $120 million. Once it’s built, the property will be competing with the nearby Ace and NoMad hotels.

 

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