Lam Group has tapped Newmark Grubb Knight Frank to find cutting-edge retailers and a dynamic restaurateur to create an indelible hospitality and shopping experience at its new 400,000 s/f, mixed-use development.
Expert retail advisor Mitchell Friedel, an executive vice president with NGKF Retail, will spearhead the leasing efforts for the 100,000 s/f of space with NGKF vice chairman Neil Golden and senior managing director Ross Perlman.
The project comprises a full city block on Broadway running from 29th Street to 30th Street.
Breaking ground this winter, the property offers multi-level retail options along with an opportunity for a signature restaurant with an expansive terrace.
Above the retail pedestal, the developer is building a high-end lifestyle hotel under the Virgin brand, a global brand that reaches more than 60 million customers.
Lam Group has commissioned VOA Associates to design the building — standing tall above its neighbors — to become the gateway building to the NoMad neighborhood.
“Not only will tenants benefit from the organic growth of the neighborhood, but this project will spearhead the NoMad Broadway corridor as the next boutique retail corridor in Manhattan,” said Friedel, who was the force behind the retail leasing of the Time Warner Center. “For many retailers, this is the ‘it’ neighborhood in New York City, with its vibrant nightlife, boutique hotels and chef-driven restaurants. It’s an ideal location.”
NoMad, named for its location north of Madison Square Park, has been the focus of high-end condo developments, boutique hospitality and notable restaurant projects in recent years such as the trendy ACE and NoMad hotels.
The area also features two museums, the Baruch Performing Arts Center, the Italian grocery Eataly, two major subway stations and an abundance of popular dining options.
“This project’s newly minted retail space with vaulted ceilings and full glass exterior walls will provide retailers with an amazing street presence to market their brand and product beyond the confines of their stores. The NGKF team understands how to communicate to the market the opportunity and vision for this to-be premier destination solely based on specs and concept,” said John Lam, CEO of Lam Group.
“We don’t want to just plug space. We want to create a meaningful, dynamic destination for New Yorkers and the 52 million visitors annually to the city.”