GFI Development Reveals Hotel Plans

NEW YORK CITY-New York City-based GFI Development Co. LLC has revealed plans for a new luxury property called the NoMad Hotel. The renovated hotel will open as LEED-certified and plans to open fall 2009. No financial details were available.

Located on 28th Street and Broadway in the NoMad district of Manhattan, the hotel is slated to launch in fall 2009, and is said to be the first LEED-certified renovated hotel in New York City. The NoMad, originally constructed in 1903, will feature a French Bohemian décor. The 12-story Kentucky limestone property will include 160 “oversized” guest rooms and 11 suites, each with an open, “loft-like feel” that includes wood floors, high ceilings and extra large windows. GFI has engaged Stonehill & Taylor as architects for the project.

A GFI spokeswoman tells GlobeSt.com that there are a number of different components that go into the hotel being more “green.” She explains that some examples include using local suppliers for the construction of the hotel, the green roof, and smaller aspects including automatic shades and glass carafes instead of plastic at turndown. Every step in the development of the hotel was taken with energy efficiency in mind, she says.

“This is an exciting time for GFI Development Co. and a great opportunity to transform an overlooked neighborhood,” says Michael Rawson, president of GFI Hotel Co. and NoMad Hotels, in a prepared statement. “We believe the abundance of landmark buildings, the diversity of creative businesses, and the overall energy in this historic neighborhood will allow the NoMad Hotel to inspire change in an area coming into its own, while preserving and restoring many of the buildings’ historic elements, blending the old with the new.”

The NoMad Hotel will also include a fine dining restaurant and bar, including both outdoor and private dining, and event spaces including a townhouse meeting room, a luxury penthouse suite with views of the Empire State Building, a roof terrace with a garden, the historic cupola, and an 1,800-sf fitness facility.

GFI Development has been busy with hotels in this area of town. As GlobeSt.com previously reported, a joint venture of GFI Development and the Dune Real Estate Funds acquired a long-term leasehold interest near the NoMad Hotel location at 1186 Broadway, also known as the Breslin Hotel. The leasehold interest was acquired from Broadway Breslin Associates LLC, an affiliate of the Haddad Organization, for $40 million. At the time, GlobeSt.com reported that the new lessee intended to undertake a substantial renovation of the property. The spokeswoman tells GlobeSt.com that the planned hotel, called the Ace Hotel there, is slated to open this winter.