AKA to Open Latest Hotel in New York in September 2022
Main Photo: The Hotel AKA NoMad New York – imagined
Date: April 2022
Name: Hotel AKA NoMad – Opening September 2022
Location: Madison Avenue, New York, NY, USA
Number of Keys:
Seller: Was the Roger New York Hotel, which was sold for $19m in July 2021 (not to be confused with the Roger Smith Hotel!)
Buyer: Electra America Hospitality Group, a JV with AKA, owned by the Korman family
AKA has teamed up with architect and designer Piero Lissoni to open the Madison Avenue hotel. Named after its location in the NoMad design district in Manhattan, the Hotel AKA NoMad will open in September 2022.
The 1930s building was previously the Roger New York Hotel, but following a huge design renovation the new hotel will feature styles from Scandinavian to Japanese. It is Italian designer Lissoni’s first hotel project in the US.
Larry Korman, president of AKA said: “As leaders in the long stay sector we are able to introduce our core residential philosophies to better evolve the traditional hotel category to a high quality experience that is more liveable.”
The hotel will also offer a wine bar, coffee shop and library lounge with a terrace.
In a separate deal, AKA has acquired the Current Apartments development in West Palm Beach, Florida.
The property, located at 625 S. Olive Avenue, is in the final stages of construction. It will now open as a furnished aparthotel under Korman Communities’ AKA brand.
Before the transaction, the developers of Current Apartments estimated the 217-unit property was about 30 per cent pre-leased. Joshua Haywood, development manager for Transwestern Development Company, said: “People were very willing to rent a small apartment if it meant living downtown and paying less money than standard apartments.”
AKA made its Florida debut in October last year when it took over management of the Conrad Miami Hotel, which has been rebranded as Hotel AKA Brickell. The property was acquired by Electra America Hospitality Group, a joint venture between Electra America and AKA Hotel Residences.
Price: New York: $19m West Palm Beach: Undisclosed
THPT Comment: AKA steaming ahead in both New York and Florida, follwing close on the heels of their deal with Electra America to acquire the Conrad Miami. Coincidently the Roger Smith Hotel (not related) was just sold for $41.4m
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