The NoMad area, known for its upscale hotels, will soon welcome SLS to the territory. Sam Nazarian, founder and CEO of SBE, a luxury hospitality real estate development and lifestyle company, teamed up with Moin Development Corp to take on the New York project.
Moin Development Corp has expressed enthusiasm with its involvement in the hotel on their website: “As our most recent acquisition, 444 Park Avenue South was an ideal opportunity for MDC to pick up an incredible asset in a AAA location. We are currently renovating the 100,000 sf property and repositioning the building to take advantage of the red hot Midtown South sector.”
Although details are scarce, the chic hotel will feature a rooftop venue for nightlife purposes. Hyde nightclubs and Katsuya restaurants are just a few accomplishments of SBE, so its resume has us confident that this SLS will meet our high expectations.
According to Bloomberg Businessweek, SBE has been searching for the perfect NY location for six years, and had to battle Hyatt Hotels Corp. and Kimpton Hotel & Restaurant Group LLC to secure the Park Avenue gem. Nazarian told Businessweek, “The Park Avenue South corridor is really sought after. It’s a great place for boutique hotels. It reminds me of the Meatpacking District 10 years ago.”
We look forward to seeing the final product in 2013!