July 15, 2019
NoMad Hotel Ownership Resolves Disputes, Poised for Season of Continued Expansion
Contrary to recent speculation, the NoMad Hotel will not be sold at auction.
The NoMad Hotel has become an icon for the NoMad neighborhood. It’s beloved not only for its luxury lodgings but also for its world-class dining provided by Guidara and Humm and one of the most honored bars in the country.
In recent years, the NoMad brand has opened additional hotels in Los Angeles and Las Vegas. These have not only become hugely popular destinations, but they have changed the social life of their cities, garnering praise from local press for food, ambience, and creativity. The brand has been such a triumph at each location that there are now plans to open a London location in Covent Garden in 2020.
With such a track record, it came as a surprise when news articles began swirling that the NYC hotel was facing the prospect of being sold at a UCC foreclosure auction in June. That prospect changed at the beginning of last month. The Real Deal reports the hotel’s business partners Ron Burkle and Andrew Zobler resolved their disputes with an agreement for Burkle’s company to buy back $40 million of mezzanine debt, less than a week before the auction was to take place.
The original NoMad Hotel occupies a 12-story historic beaux-arts building at 1170 Broadway. Originally designed as retail and office space by the architectural firm Schickel & Ditmars, the building was beautifully restored and reinvented by Jacques Garcia for its use as a hotel. Since opening in 2012, the hotel has become nearly synonymous with its namesake neighborhood, even as the NoMad brand began expanding to other cities. Its parent company, the Sydell Group, also operates such properties as the LINE in LA, DC and Austin; the Freehand in New York, LA, Miami, and Chicago; and Park MGM in Las Vegas, among others.
With this resolution in place and the controversy in its rear-view mirror, the NoMad brand is now poised to continue its plans for expansion, extending the NoMad name both nationally and internationally. But those who live and work in NoMad will rest easy knowing the trendsetting hotel, superlative restaurant and iconic bar that started it all will remain part of the fabric of the neighborhood.