New Hotels Coming to NoMad: The Paul, JTRE Hotel Project
Friday November 21, 2014
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.View all Headlines