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New Hotels Coming to NoMad: The Paul, JTRE Hotel Project

Friday November 21, 2014

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Learn all of the new details about NoMad's soon-to-open The Paul Hotel.

The Paul, a new 122-room hotel, is coming to 32 West 29th Street, between Fifth and Sixth Avenues, in the heart of the happening NoMad District north of Madison Square Park.

The 21-story hotel will feature a mix of accommodations from king and double beds to the promised bunk beds.

Not much is known about the hotel’s namesake owner, but the facility will have six/seven rooms to a floor according to its Schedule A on file with the NYC Department of Buildings. The Paul will offer standard amenities for what promises to be a mid-range hotel. There is no word yet on nightly rates.

Target demographic appears to be skewing younger – in a word, millennials – catering to the techies and creative types who hold sway over NoMad.

A block over and down the street on West 28th, developer and brokerage JTRE Holdings has reportedly paid $15.5 million for two buildings at 6-8 West 28th next door to the Nomad Hotel.

JTRE’s Jack Terzi is said to be considering another hotel development or a restaurant on the ground now occupied by the 100 year-old, four-story buildings.

The JTRE purchase comes on the heels of recent major real estate transactions in NoMad. HFZ Capital Group is raising a mixed-use building at 3 West 29 Street. The Lam Group is developing a 38-floor Virgin Hotel at 1205-1225 Broadway and Steven Witkoff’s long-awaited real estate project at 10 Madison Square West is expected to complete next year.

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