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Lam Group

202 Centre Street
New York, NY 10013
(212) 334-3338
Website

Lam Group is a hotel development company located in Chinatown. It was formed in the early 2000s by CEO John Lam, who began in the fashion industry but in 1996 purchased a hotel in foreclosure. After switching into real estate, the Lam Group was one of the first developers to open a hotel after the September 11 terrorist attacks. The firm has since partnered with brand name hotel chains Starwood Hotels & Resorts, Hilton, and Marriott to develop more than two-dozen hotels. The Lam Groups preferred approach has been to identify underutilized locations and then redevelop them into first-class hotels. Among its hotels are the Virgin Hotel at 1227 Broadway, which the firm purchased in 2011 and then redeveloped, and a Marriott hotel taking over the old Victoria Theater in Harlem. Besides development, the firm also owns and operates about 10 properties, including Four Points by Sheraton Manhattan Chelsea, the Solito SoHo, and Aloft Brooklyn.

  • Event Financing
  • Address 6 Platt Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 67,500,000
  • Publication Date 07/19/2019
  • Event Date 07/19/2019
  • Party 1 Lam Group
  • Party 2 Investors Bank
notes
The lender issued a loan of $67.5 million for the Financial District property.
  • Event Sales
  • Address 52-34 Van Dam Street
  • Neighborhood Long Island City
  • Borough Queens
  • Price $ 36,500,000
  • Publication Date 12/03/2018
  • Event Date 11/27/2018
  • Party 1 Lam Group
  • Party 2 Shulem Herman
notes
The buyer purchased the Long Island City property for $36.5 million.
  • Event Retail Leasing
  • Address 1227 Broadway
  • Neighborhood Nomad
  • Borough Manhattan
  • Square feet 22,000
  • Price per foot $ 110.00
  • Publication Date 04/17/2018
  • Event Date 04/12/2018
  • Party 1 Lam Group
  • Party 1 Broker Newmark Knight Frank
  • Party 2 Swingers: The Crazy Golf Club
  • Party 2 Broker JLL
notes
The golf club company inked a lease at the Virgin Hotel in Chelsea.
  • Event Financing
  • Address 228 Duffield Street
  • Neighborhood Downtown Brooklyn
  • Borough Brooklyn
  • Square feet 173,000
  • Price $ 68,000,000
  • Publication Date 02/28/2018
  • Event Date 02/28/2018
  • Party 1 Lam Group
  • Party 2 US Bank
notes
The owner acquired a $68 million loan for the Brooklyn Sheraton in Downtown Brooklyn.
  • Event Sales
  • Address 261 East 78th Street
  • Neighborhood Upper East Side
  • Borough Manhattan
  • Square feet 17,618
  • Price $ 17,000,000
  • Price per foot $ 964.00
notes
The 6-story medical office building was sold for $17 million.
  • Event Financing
  • Address 261 East 78th Street
  • Neighborhood Upper East Side
  • Borough Manhattan
  • Square feet 17,618
  • Price $ 11,000,000
  • Price per foot $ 624.00
  • Publication Date 07/01/2017
  • Event Date 05/23/2017
  • Party 1 Lam Group
  • Party 2 Cathay Bank
notes
The entity secured a $11 million refinance for the 6-story medical building.
  • Event Sales
  • Address 41-43 Division Street
  • Neighborhood Chinatown
  • Borough Manhattan
  • Square feet 20,968
  • Price $ 15,500,000
notes
The loft-style commercial building was sold for $15.5 million.
  • Event Financing
  • Address 1125 Broadway
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 222,000,000
  • Publication Date 05/01/2016
  • Event Date 03/17/2016
  • Party 1 Lam Group
  • Party 2 Shanghai Commercial Bank
notes
The company secured a $222 million loan that consists of a $164.7 million construction loan and $57.3 million in refinancing.
  • Event Sales
  • Address 112 Fulton Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 10,000
  • Price $ 4,400,000
  • Price per foot $ 440.00
notes
The property sold for $4.4 million.
  • Event Sales
  • Address Manhattan portfolio
  • Neighborhood SoHo
  • Borough Manhattan
  • Price $ 41,000,000
  • Publication Date 01/01/2012
  • Event Date 11/17/2011
  • Party 1 Regal Real Estate Investment
  • Party 1 Brokerage Independent Properties
  • Party 2 Lam Group
  • Party 2 Brokerage Okada & Company
  • Party 2 Broker Christopher Okada
  • Event Sales
  • Address 21 Maiden Lane
  • Neighborhood Financial District
  • Borough Manhattan
  • Square feet 98,000
  • Price $ 41,000,000
  • Price per foot $ 418.37
  • Publication Date 01/01/2012
  • Event Date 11/22/2011
  • Party 1 Brokerage Independent Properties
  • Party 2 The Lam Group
  • Party 2 Brokerage Okada & Company
  • Party 2 Broker Christopher Okada
notes
The package of three buildings sold for $41 million. The eight-story building at 21 Maiden Lane has 30 residential units and two stores; the two-story building at 3 East 17th Street is a mix of retail and offices; and the five-story building at 105 Chambers Street is a mix of retail, residential and office space.
  • Event Sales
  • Address 330 West 40th Street
  • Neighborhood Hudson Yards
  • Borough Manhattan
  • Price $ 99,500,000
  • Publication Date 04/01/2009
  • Event Date 02/20/2009
  • Party 1 Lam Group
  • Party 2 Gehr Development
notes
The Fairfield Inn New York Manhattan/Times Square South sold for $99.5 million. The hotel opened in February in a newly constructed building. This was the Los Angeles-based buyer's first purchase in New York City.
  • Event Sales
  • Address 49-53 Ann Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 13,150,000
  • Event Sales
  • Building Name 49-53 Ann Street
  • Address 53 Ann Street
  • Neighborhood Financial District
  • Borough Manhattan
  • Price $ 13,150,000
notes
The 15,500-square-foot vacant property sold for $13.15 million. The buyer is planning a hotel for the site, which has a maximum buildable area of 45,800 square feet.
Queens, 11429
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05/14/2018
JLL represented the tenant. Newmark Knight Frank represented the landlord, Lam Group...

06/01/2015
It gathered $60 million from 120 investors for its 429-unit luxury rental at Liberty Gardens in Carroll Gardens. Other developers with regional centers? Related, Silverstein, Extell and hotel building firm the Lam Group...
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