New Ritz-Carlton hotel in the works for New York

The hotel will be located in New York's NoMad neighborhood, which is located North of Madison Square Park. Photo credit: Getty Images/francois-roux

Marriott International signed an agreement with hospitality development firm Flag Luxury Group to bring The Ritz-Carlton brand to New York City’s NoMad neighborhood, also known as North of Madison Square Park. Flag Luxury Group will develop the hotel and residences tower, which will represent a more than $500-million investment.

Designed by architect Rafael Vinoly, this project will include both hotel accommodations and branded residences conceived of by interior design firm Yabu Pushelberg. The property will be located at Broadway and 28th Street.

“We are thrilled to be working with Flag Luxury Group to bring this significant project to the NoMad area. Thanks to buzzing restaurants and bars, unique retail and notable architecture, NoMad has become one of Manhattan’s most popular neighborhoods,” Tony Capuano, EVP and global chief development officer, Marriott International, said in a statement. “This signing speaks to the strong demand we are experiencing for luxury hospitality and branded residences.”

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“The Ritz-Carlton New York, NoMad, is set to become the epicenter of one of New York City’s most exciting neighborhoods and we are thrilled to be collaborating with Marriott International on this iconic project,” Dayssi Olarte de Kanavos, president of Flag Luxury Group, said in a statement. “The hotel and residences tower will have an ideal location and sophisticated design, complemented by the celebrated Ritz-Carlton service.”

The tower will include a fine-dining restaurant, the brand’s Club Lounge, a Ritz-Carlton Spa, fitness center and a rooftop bar. A public garden and open terraces will include greenery and trees, and two ballrooms will be available for corporate and social gatherings. Madison Square Park is also located nearby.

The tower will include 250 hotel rooms and 16 branded residences. Construction of the property is already underway, with the hotel and residences expected to open in 2021.