NoMad owners pay $6M for neighboring building

The entity that owns the NoMad Hotel, 1170 Broadway Associates, has paid $6 million for a five-story mixed-use building adjacent to their own owned by Silvershore Properties, according to a statement provided to The Real Deal.

The deal for the property, located at 10 West 28th Street, will allow the 168-room NoMad to expand, said Silvershore principal Jason Silverstein in the statement. “The NoMad Hotel saw this as a great opportunity to increase their space and offerings and we agreed,” he said.

The NoMad offers luxe décor with a homey vibe, representing a transition that boutique hotels have undergone in the last decade from cultivating nightclub-like atmospheres to creating more comfortable settings.

Silvershore’s recent transactions include the purchase of 63 Spring Street in Soho for $6.4 million and a 25-unit building at 219 13th Street in Park Slope for $5.25 million. —Hiten Samtani