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Lightstone Closes $175M Loan for Moxy East Village
Lightstone closed on $175 million in financing from Goldman Sachs Private Bank for Moxy East Village, a 286-key Marriott-brand hotel on East 11th Street in the East Village. The hotel opened in September and is the third of five Lightstone-developed Moxy hotels to open in New York City.
“With few hotels around, the East Village hasn’t really been accessible to visitors,” said Lightstone President Mitchell Hochberg. “Our goal with Moxy East Village was to create a property that embraces the unique character of the East Village and its place in the history of American culture, while defining what hospitality means in the neighborhood today.”
Moxy East Village joins properties in Chelsea and Times Square. Lightstone’s Moxy South Beach, set to open on Miami Beach in 2020, will mark its first Moxy outside of New York. Properties elsewhere in New York City and in Downtown Los Angeles are also under development.
For comments, questions or concerns, please contact Paul Bubny
- ◦Financing
- ◦Development
