Margaritaville is suddenly going to be substantially more accessible to New Yorkers. An eponymous holding company has announced they will open a branded “Margaritaville” hotel at 560 Seventh Avenue, on 7th Avenue and 40th Street, in Times Square, Manhattan. The plan is to build a 29-story hotel with retail space, a three-story restaurant, pool, and rooftop LandShark Bar. Sharif El-Gamal’s Soho Properties is responsible for the development, partnering with the non-union Chip, Andrew Weiss, and MHP Real Estate Services.
The 234-key Margaritaville Resort is expected to open in late 2020, at a cost of $300 million. International Meal Company (IMC) will be responsible for the several food and beverage venues on site. The lodge is being marketed as an antidote to travelers who want to experience the restless energy of New York City without the associated anxiety.
CEO of Margaritaville, John Cohlan, explained:
The Margaritaville Resort Hotel and the lifestyle experience it offers will be the perfect complement to the exciting, fast-paced energy of Times Square and we can’t wait to bring this destination to the travelers and residents of New York City.
Chairman and CEO of Soho Properties Sharif El-Gamal is excited about the project, describing it as, “…a perfect addition to the pulsing energy of the Times Square submarket, which continues to thrive as one of the city’s most visited neighborhoods.” He added, “We are thrilled to collaborate with one of the world’s most beloved brands and bring New York’s first Margaritaville to Times Square, where it will undoubtedly be a top destination for visitors and NYC residents alike.”
This news comes just over a month after Buffett was in the headlines with Escape to Margaritaville the musical opening on Broadway.
The site is currently vacant. The prior building, a six-story Fashion Education Center run by Parsons’ New School for Design, was demolished in 2014.