Midtown Manhattan, New York, NY
Credit: Alexander Spatari/Getty Images

A new, Ritz-y hotel is coming to New York City’s NoMad neighborhood.

Marriott International announced it has signed an agreement with luxury hospitality development firm Flag Luxury Group to bring a new Ritz-Carlton hotel to New York City. Flag Luxury Group is planning to invest $500 million in the new project.

The new project, including hotel accommodations and residence tower, will be designed by award winning architect Rafael Vinoly and interior design firm Yabu Pushelberg. The hotel will be located at Broadway and 28th Street.

“Thanks to buzzing restaurants and bars, unique retail and notable architecture, NoMad has become one of Manhattan's most popular neighborhoods,” Tony Capuano, Executive Vice President and Global Chief Development Officer, Marriott International, said in a statement.

At 500 feet high, the tower will offer sweeping views of New York City, including the Empire State Building, and easy access to the city’s most historic and vibrant neighborhoods.

“The hotel and residences tower will have an ideal location and sophisticated design, complemented by the celebrated Ritz-Carlton service,” said Dayssi Olarte de Kanavos, President of Flag Luxury Group.

The hotel will also offer a fine dining restaurant, 250 hotel rooms and 16 branded residences, a spa and fitness center, and a rooftop bar among other amenities.

Construction is already underway, with an expected opening in 2021.