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New York & Tri-State  + Downtown New York  + Finance  | 

Lightstone Secures $130M Financing for Latest Moxy Hotel Project

MSD Partners, L.P. and Lionheart Strategic Management LLC have closed on approximately $130 million in financing to the Lightstone Group to capitalize the ground-up construction of Lightstone’s Moxy hotel on Manhattan’s Lower East Side. The 303-key project will be Lightstone’s fourth Moxy in New York City.

The financing includes a $90-million senior loan provided by MSD and a $40-million mezzanine loan provided by Lionheart through its current credit vehicle, Lionheart Real Estate Credit Strategies LLC. Meridian Capital Group’s Drew Anderman and Benjamin Nevid represented the sponsors.

“With Lightstone’s strong track record of successful Moxy developments in New York and across the country, we believe this project will benefit from its prime location and is well positioned to capitalize on robust leisure tourist demand that we anticipate New York City will achieve as the market continues to recover from the effects of the COVID pandemic,” said Lionheart chairman Winston Fisher.


Inside The Story

MSD PartnersLionheart

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Financing