Rendering of new hotel planned by Lam Group for 113-117 West 24th Street
John Lam, one of the city's most prolific hotel developers, is at it again. In February, his company Lam Group filed plans to build a 43-floor, 380-key hotel at 115 West 24th Street, directly behind his soon-to-finish 39-floor Renaissance New York Chelsea Hotel at 112 West 25th Street. The two upcoming hotels share a mid-block parcel between West 24th and 25th streets that Lam acquired in 2013 from Extell's Gary Barnett for $67.5 million. The property previously held a three-floor parking garage that hosted the weekend flea market, Chelsea Antiques Garage. Its 11-year run ended in 2014.
Lam previously hoped to sell the 24th Street side of the lot to Sharif El-Gamal, the developer behind the residential condo 45 Park Place. According to The Real Deal, plans fell through after two years of negotiation causing Lam to proceed with the project himself.
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Rendering posted on 113-117 West 24th Street's fence
A recent visit to the 24th Street property shows construction has started and a new rendering is posted on the sidewalk fence. Filings show Stonehill & Taylor Architects are the designers and the rendering reveals a playful, color-infused facade. The acclaimed hospitality firm is also behind the interiors of the Renaissance Hotel next door which will feature a rooftop venue and pool.
The new tower will have 10 rooms per floor from levels 4 through 41 in addition to the typical hotel amenities. Planned to rise a little more than 420 feet tall, the new tower will be slightly shorter than the 450-foot-tall Renaissance Inn behind, allowing for south-facing views from its rooftop bar.
Drawings of 113-117 West 24th Street from approved ZD-1 (NYC DOB)
The hotel will join two other inns planned for 24th Street in addition to a Hampton Inn Chelsea hotel that opened in 2003. Sam Chang is building a 45-floor, 520-key hotel at 142 West 24th Street and a 19-floor, 77-key hotel is slated for 57 West 24th Street. Read here for a rundown of hotel projects in this area
The two hostelries will block much of the west-facing views of the next-door condo-tower, Chelsea Stratus. Most affected are the building's A and B lines where recent listings and closings already show substantial price cuts before moving off the market. The three-bedroom #26B had its initial asking price slashed from $3.495M to $2.95M before falling into contract this past May. The unit previously sold for $3.25M in 2015 according to our sales records.
Renaissance Hotel under construction in center with Chelsea Stratus peeking behind. (CityRealty)
Chelsea Stratus and Renaissance Hotel from Sixth Avenue (CityRealty)
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New Developments Editor
Ondel Hylton
Ondel is a lifelong New Yorker and comprehensive assessor of the city's dynamic urban landscape.
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