Florida-based hotel manager LuxUrban has entered a 15-year master lease agreement with GFI Hospitality to operate The James NoMad Hotel in New York City, US.
The property is expected to be rebranded as The J Hotel by LuxUrban, a Wyndham Grand Hotel, with plans to open to guests from 1 March this year.
The James NoMad Hotel is considered to be a landmark in New York City, as it is strategically located in midtown Manhattan and is within walking distance of the Empire State Building, Madison Square Garden, and Grand Central Station.
With a Beaux-Arts-style exterior, the hotel comprises 353 rooms. Designed by architect Thomas Juul-Hansen, it has earned the reputation of an 'urban sanctuary'.
The interior features eclectic, post-modern elements, and the walls are adorned with works from local artists.
Guests at the hotel can indulge in the indoor/outdoor Italian dining experience at Scarpetta and unwind at The Seville, the hotel's speak-easy-style cocktail lounge.
LuxUrban Hotels chairman and co-CEO Brian Ferdinand said: “The J Hotel will mark LuxUrban’s 13th hotel under long-term lease in our core market of New York City and expand our range of offerings to business and leisure travellers. I want to thank GFI Hospitality, an affiliate of GFI Capital Resources Group, for its support, professionalism, and vision in consummating this transaction.
“GFI Hospitality has completed over $4bn in hotel transactions and created some of the world’s most iconic lifestyle hotels – including the Beekman, a Thompson Hotel, The Thompson Central Park, Ace New York, Ace Brooklyn, Ace Palm Springs, and the James NoMad.”
GFI CEO Allen Gross said: “GFI looks forward to collaborating with LuxUrban on additional transactions. In our view, LuxUrban’s unique MLA model coupled with its partnership with Wyndham Hotels & Resorts, which boasts the largest rewards program in the world, has positioned the Company for great success.
“As a developer and owner of over $4bn of hospitality assets, we are very excited to be working with LuxUrban.”
Last month, LuxUrban signed master lease agreements (MLAs) for two new boutique hotels in New York City.
