Lightstone Secures Financing for Moxy Hotel
- Dec 27, 2016
New York—Lightstone has arranged financing for a new 349-key hotel located in Manhattan’s NoMad neighborhood. The amount was undisclosed.
Located at 105 W. 28th St., this is one of four Moxy hotels being developed in partnership with Marriott. The financing comes from Bank of the Ozarks and an institutional investor. The 37-story Moxy will feature a lobby lounge, first floor and rooftop dining and bar options, a fitness center and meeting rooms. Lightstone’s four Moxy hotels total 1,500 guestrooms, including the brand’s 618-room flagship U.S. property in Times Square that is scheduled to open in 2017.
Along with its New York properties, the company is also developing Moxy’s in South Beach, Miami, downtown Los Angeles and West Hollywood. Lighstone’s $2 billion portfolio in 26 states currently includes over six million square feet of office, retail and industrial properties, 11,000 residential units and 3,800 hotel rooms.
Image courtesy of Lightstone