NEW YORK (AP)  -- Nobu, the pricey sushi restaurant chain, is branching out into the hotel business.

A developer announced plans Friday to build a 62-story glass tower near the New York Stock Exchange that will house a 128-room, five-star hotel; 77 luxury condominiums and the city's fourth Nobu restaurant.

Nobu Hotel and Residences would be the first Nobu hotel in the country; another is being developed in Herzliya Marina along Israel's Mediterranean coast.

A transparent glass facade at the 650-foot tower's base would rise six stories, while the restaurant, Nobu at 45 Broad, will be on the third floor, according to the developer, Swig Equities. The tower will feature film screening rooms, private wine and sake cellars and a 13,000-square-foot health club.

Construction of the tower is expected to begin later this year and the hotel should open two years later, the developer said.

Nobu, co-owned by actor Robert De Niro, has more than a dozen upscale restaurants across the world, including three in midtown and downtown Manhattan.