Newmark Grubb Knight Frank Retail and Hospitality Services Chosen to Market Retail Space at New NoMad Hotel Development

NEW YORK, June 24, 2013 /PRNewswire/ -- Newmark Grubb Knight Frank (NGKF) Retail and Hospitality Services is pleased to announce it has been chosen by the Lam Group to lease the retail portion of a mixed-use, 400,000-square-foot development project located in the trendy NoMad neighborhood of New York City, which will include two luxury hotels (one of which will be the Virgin Hotel), as part of the its effort to create a lively lifestyle-concept hospitality experience.

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NGKF's Rika Lisslo, Ross Perlman and Neal Golden will head the leasing effort of 100,000 square feet at the site, which will take up the entire block frontage on Broadway from 29^th Street to 30^th Street. Virgin Hotel New York is slated to open in the second quarter of 2016 and is expected to feature 300 rooms, multiple food and beverage outlets, meeting spaces, and a wellness component. Soon to be publicly announced, the second luxury hotel also will open during that same time, featuring 300 rooms, spa and other amenities. The multi-level retail space will be smartly integrated with the hotels to deliver an exceptional experience for all guests and consumers.

"It was important to choose a leasing team that understands the relationship between hotel demographics and the connected retail space," said John Lam, CEO of Lam Group, the project owner and developer. "This isn't about filling retail fronts. It's about creating an exciting, memorable all-around experience."

The Lam Group is intimately familiar with the New York hotel landscape and is one of the leading owners, developers and operators of franchised hotels in the city. The group is experienced in developing retail, office and residential space alongside its hotel developments to enhance the surrounding community, bringing its ingenuity and vision to make these projects successful. Anchored by the Virgin brand, which reaches 60 million customers globally, this site will truly be a destination for New Yorkers and the 52 million visitors to NYC.

About The Lam Group
Lam Group is a privately held real estate investment company recognized as a leading and innovative hotel developer and owner. The Lam Group has developed over 22 hotels in New York in the past decade, and currently owns and operates 10 hotels with an additional 7 in its current pipeline. In addition to hotels, Lam Group's portfolio includes office, retail and residential properties. For more information, please visit: www.lamgroupnyc.com.

About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world's leading commercial real estate advisory firms. Together with its affiliates and London-based partner Knight Frank, NGKF employs more than 11,000 professionals, operating from more than 340 offices in established and emerging property markets on five continents.

With roots dating back to 1929, NGKF's strong foundation makes it one of the most trusted names in commercial real estate. Its integrated services platform includes leasing advisory, global corporate services, investment sales and capital markets, consulting, program and project management, property and facilities management, and valuation services. A major force in the real estate marketplace, NGKF serves the local and global property requirements of tenants, landlords, investors and developers worldwide. For further information, visit www.ngkf.com.

NGKF is a part of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company primarily servicing the wholesale financial and real estate markets. For further information, visit www.bgcpartners.com.

Press contact: Mira Matic, (973) 461-9005, [email protected].

SOURCE Newmark Grubb Knight Frank