Funding

Funding Needed
$436 (Mio)
EB5 Funding
$100 (Mio)
Amount Subscribed
$322 (Mio)
EB-5 Investors
200
Investment Amount
$500,000

Jobs

Job Creation per Investor
17.1
Job Creation (Total)
3418
Category
Accommodation and Food Services
Sub-Category
Hotels (except Casino Hotels) and Motels

Investment

Principal equity in project?
Yes

Immigration

Does this project have approved I-526's?
No
Does this Regional Center have approved I-526's?
No
Does this Regional Center have approved I-829's?
No

Location

State
New York
Location
1205-1227 Broadway New York NY 10001

1 follower

Lam Group

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1205 Broadway Virgin Hotel


Developer Name
Lam Group

Project Description

1205 Broadway Hotel LLC, a Lam Group company (the “Lam Group”), is developing a project located at the heart of NoMad neighborhood (North of Madison Square Park), which we call the “Virgin NoMad Hotel Project”. 

 

Lam NYC EB-5 Fund Regional Center LLC, an approved regional center from U.S. Citizenship and Immigration Services, is offering this investment opportunity to foreign immigrant investors under the EB-5 Regional Center Program. EB-5 Investor will invest into 1205 Broadway EB-5 Investors Fund, LP (the “Partnership”), as limited partner, with Lam NYC EB-5 Fund Regional Center LLC (the “Regional Center”) acting as the general partner. 

 

The subject Property, located at 1205-1227 Broadway, New York, NY (made up of four separate contiguous lots acquired by Lam).  Developer is constructing from ground up a 40 story, 412,000 gross square feet building, consisting of 463 key high-end hotel, sitting on top of a 65,000 square feet retail base.  Hotel amenities include the Virgin clubhouse, meeting rooms, outdoor pool,  three terraces, signature restaurant and a rooftop event space.  The retail space will be located on the ground floor, second floor and cellar, fronting the entire block from 29th Street to 30th Street on Broadway.

 

The Project, which is scheduled to open in 2018, will be developed by the Lam Group and will be operated by the Virgin Hotel Group.  Virgin’s target audience includes the high income, well-educated, metropolitan professional.  Through its affiliates, Virgin can leverage its access to millions of Virgin airline flyers and loyalty program members to generate awareness and demand.  The retail space is currently being marketed by Newmark Grubb Knight Frank, a leading international brokerage firm, focusing on luxury and high end fashion boutiques.  There has been tremendous interest for this location.

 

Project Timeline

Site Purchase Aug. 2012
Building Plan Oct. 2014
Demolition March 2015
Construction Start Sep. 2015
Hotel Opening October 2018
Retail Leasing Start October 2018


Conversations

user
Virgin Hotel Manhattan
Hi I'm interested in the virgin hotel project. Do you have more info? Thx
Kate, March 29, 2016 09:55 AM [No Answer] 0

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