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.
In this article:
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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