Exclusive: NoMad Hotel Project to Expand by More Than 100,000 SF

The developer Jon Lam is arranging a deal to significantly increase the size of a hotel project he is planning to build on Broadway between 29th and 30th streets.

Over the summer, Mr. Lam purchased two commercial buildings, 1205 and 1225 Broadway, for about $72 million with plans to raze the two structures and erect a roughly 250,000-square-foot hotel and retail building.

The current negotiations for the adjacent parcels, located at 846 Avenue of the Americas and 1227 Broadway, would allow Mr. Lam to increase the size of his project to about 360,000 square feet.

“We’re in talks to buy the buildings,” Mr. Lam confirmed in a conversation with The Commercial Observer on Friday afternoon.