NEW YORK | 1185 Broadway (Ritz Carlton NoMad) | 580 FT | 40 FLOORS

[chris08876]

Originally Posted by Crawford

This tower looks very nice.

Alongside the new Virgin Hotel and a number of other planned projects, this stretch of Broadway is becoming a corridor of luxury hotels.

I agree. I think the vegetation is an added touch, but design wise, it's not shabby, and has a luxury feel to it.

[chris08876]

Current Site:


Credit: Oppix56

[chris08876]

Credit: JC_Heights

[chris08876]

CapitalSource, Atalaya Capital Provide $315M in Financing for NoMad Ritz-Carlton

Flag Luxury Properties has nabbed $315 million in financing for the construction of its Ritz-Carlton hotel at 1185 Broadway, according to property records filed today and sources familiar with the deal.

CapitalSource, a division of Pacific Western Bank, and Atalaya Capital joined forces to provide $250 million in construction financing. Atalaya also provided $65 million in preferred equity in the deal, sources told Commercial Observer.

The $250 million in construction financing comprises a $108 million building loan and $92 million project loan and also replaces $50 million in acquisition debt on the property that was provided by United Overseas Bank in 2016.

Both the buiilding and project loans are split in an A/B-note structure with CapitalSource as the A-note holder and Atalya Fund VI REIT as the B-note holder.

The building loan’s A-note has a maximum principal balance of $64.6 million and the B-note a balance of $43.3 million. The project loan’s A-note has a maximum principal balance of $55 million and the B-note weighs in at $37 million.

Flag Luxury picked up the NoMad site from Clark Wile and Mayer for $100 million in 2015.

The 40-story building,153,199-square-foot building is being designed by architect Rafael Vinoly and will include 11,200 square feet of commercial space, according to New York YIMBY.

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https://commercialobserver.com/2018/...-ritz-carlton/

[chris08876]

Credit: Oppix56

[chris08876]

Viñoly-Designed Ritz Carlton Officially Set To Break Ground At 1185 Broadway In NoMad, Manhattan

Marriott International has announced that they are imminently officially breaking ground on a new Ritz Carlton at 1185 Broadway in NoMad, a trendy Manhattan neighborhood for new hotels. Marriot, the Ritz-Carlton Hotel Company, and the Flag Luxury Group are responsible for the development.

The 40-story tower will continue the densification of the area right above the Flatiron, and help address the demand for new hotel space in New York.

The 580-foot tall structure will yield over 150,000 square feet within, create 250 guest rooms and sixteen residences. Amenities will include a branded Ritz-Carlton Spa, fitness center, bicycle parking and a rooftop bar. The ground floor will include a fine-dining restaurant with a bar, an important component for any fashionable new hotel.

The development will cost an incredible half billion dollars to complete. Groundbreaking is planned for tomorrow.

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NYY

[Submariner]

Why. The. Setback?

[Busy Bee]

What, you don't want them to show off that beautiful party wall of the building next door and that pathetic halfassed screen they've rendered up but will likely never be built?

[jackster99]

^In fairness it's at least good to know this will be a Ritz Carlton.

The materials used and the finished product should be quite nice

[Zerton]

That shrubbery is probably going to look bad in the winter. Unless it's some kind of evergreen, which it isn't shown as.

[NYer34]

Originally Posted by Submariner

Why. The. Setback?

Because Vinoly is a hack architect.

[chris08876]

It would'nt suprise me if the vegetation is just a prop. It'll be a soulless tower with a terrible set-back. Miami for example tends to have a lot of renderings with flora... but when its finished, no green in site. Money yes, but moth*****'n photosynthesis in the tower... none!

Miami arguably could support such flora, but in NY... 1st site of winter and those flowers are FUBAR.

[chris08876]

Credit: Oppix56

[chris08876]

Under Construction




Credit: JC_Heights

[chris08876]

This should be moved to u/c.

[chris08876]

Credit: SideStreet

[chris08876]

Credit: Michael Young via NYY

[chris08876]

Credit: Helberd

[chris08876]

Credit: JC_Heights

[Barney Greengrass]

Somewhat better: