April 20, 2015 In the News
Hotel To Have Spring Opening in NoMad Landmark Clock Tower Building

Abu Dhabi Investment Authority buys NoMad Clock Tower from Marriott International

In an article last Thursday, “Abu Dhabi Investment Authority pays $336M for Nomad clock tower,” Real Estate Weekly reported that the Clock Tower Building at 24th Street and Madison Avenue has changed hands once again. As of April 1st, the Abu Dhabi Investment Authority is the new owner of the property, after buying it from Marriott International.

The plan to open a hotel in the Clock Tower Building has been in the works since 2007, when developers Ian Schrager and Aby Rosen first teamed up on the project. In 2011, Marriott International bought the 42-story building with the intention of turning it into the New York Edition Hotel.

Abu Dhabi Investment Authority is moving ahead with the hotel’s opening, which is planned for this spring. Real Estate Weekly reports that the hotel will have 273 luxury rooms, a restaurant on the first and second floors, a third-floor banquet hall and a spa on the 38th floor.

It is not yet clear what the hotel’s name will be, but it will be in good company in the NoMad neighborhood. It was hotels such as The NoMad and Ace Hotel that brought initial attention to NoMad’s revitalization — it’s only fitting that visitors will now get to experience luxury accommodations inside one of the neighborhood’s most visible and beautiful landmarks.

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