Newmark Grubb Knight Frank (NGKF) Retail and Hospitality Services has been tapped by the Lam Group to lease the retail portion of a 400,000 s/f mixed-use development project in NoMad.
The development will include two luxury hotels, including a Virgin Hotel, as part of the its effort to create “a lively lifestyle-concept hospitality experience,ˮ according to the developers.
NGKF’s Rika Lisslö, Ross Perlman and Neal Golden will head the leasing effort of 100,000 s/f at the site, which will take up the entire block frontage on Broadway from 29th Street to 30th Street.
Virgin Hotel New York is slated to open in the second quarter of 2016 and is expected to feature 300 rooms, multiple food and beverage outlets, meeting spaces, and a wellness component.
Soon to be publicly announced, the second luxury hotel also will open during that same time, featuring 300 rooms, spa and other amenities.
The multi-level retail space will be integrated with the hotels to deliver “an exceptional experienceˮ for guests and consumers.
“It was important to choose a leasing team that understands the relationship between hotel demographics and the connected retail space,” said John Lam, CEO of Lam Group, the project owner and developer. “This isn’t about filling retail fronts. It’s about creating an exciting, memorable all-around experience.”
Lam Group has developed over 22 hotels in New York in the past decade, and currently owns and operates 10. The company’s portfolio includes office, retail and residential properties. Raul Leal, Virgin Hotels CEO, said in an earlier statement that the company led by billionaire Richard Branson was delighted to be entering the New York market and play a part in continuing the NoMad neighborhood’s growth.
“Virgin’s 60 million global customers can’t get enough of New York City, and we hope to welcome them all with our trademark style, humor, innovation, and friendly customer service,” said Leal.
“We are equally thrilled to partner with the Lam Group, who has shown success in New York as real estate investors and developers.”