Exterior work is finishing up on the Virgin Hotel, a 38-story tower at 1225 Broadway in NoMad. Designed by Stantec and developed by Lam Group, the 476-foot-tall, 300,000-square-foot structure will contain 460 hotel rooms managed by Sir Richard Branson of Virgin Group. Flintlock Construction Systems, LLC is the general contractor for the property, which is bound by Broadway, West 29th Street, and West 30th Street.
Construction has officially topped out on TSX Broadway, a 46-story mixed-use hotel tower at 1568 Broadway in Times Square. Designed by Perkins Eastman and Mancini Duffy and developed by L&L Holding Company and Fortress Investment Group, the 470-foot-tall structure will yield 550,000 square feet with a 669-key hotel, retail space, restaurants, and an outdoor performance venue that overlooks Times Square. The building will also serve as the new home of the historic Palace Theatre, which is being raised 30 feet to make room for ground-floor retail space. The project is projected to cost $2.5 billion and debut early 2023.
Façade work is wrapping up on 456 Greenwich Street, an eight-story hotel building in Tribeca. Designed by Stephen B. Jacobs Group with Martin Brudnizki Design Studio as the interior designer, and developed by Caspi Development, the 94,000-square-foot structure will yield 96 Art Deco-inspired guest rooms operated by Groupe Lucien Barrière of the Hôtel Barrière Le Fouquet’s Paris. AECOM Tishman is the general contractor for the Lower Manhattan development, which is bound by Greenwich Street to the east, Desbrosses Street to the south, and Washington Street to the west.
An affiliate of GFI Capital Resources has secured $195 million in refinancing for The Beekman, a historic landmarked hotel in Manhattan’s Financial District. The deal included a $130 million senior loan with Bank OZK arranged by Newmark and a $65 million subordinate financing raised from bond investors on the Tel Aviv Stock Exchange.
Construction is complete and occupancy has begun at 140 West 28th Street, a 46-story dual-brand Marriott Hotel tower in Chelsea. Designed by Gene Kaufman Architect and developed by Sam Chang of the McSam Hotel Group, the 470-foot-tall tower yields 173,000 square feet and 531 guest rooms split between a 284-room Springhill Suites and a 247-room Townplace Suites. Omnibuild served as the general contractor for the project, which is located between Sixth and Seventh Avenues in the Flower District of Midtown, Manhattan.
