{"id":1004213625,"date":"2018-03-26T06:58:31","date_gmt":"2018-03-26T14:58:31","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004213625"},"modified":"2022-12-03T13:54:59","modified_gmt":"2022-12-03T21:54:59","slug":"lightstone-secures-financing-for-3rd-nyc-moxy-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lightstone-secures-financing-for-3rd-nyc-moxy-hotel\/","title":{"rendered":"Lightstone Secures Financing for 3rd NYC Moxy Hotel"},"content":{"rendered":"<p><em>By Keith Loria, Contributing Editor<\/em><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004213691\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lightstone-secures-financing-for-3rd-nyc-moxy-hotel\/nyc-skyline\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/NYC-skyline.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"NYC skyline\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/NYC-skyline.jpg?w=800\" class=\"alignright wp-image-1004213691 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/NYC-skyline.jpg\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/NYC-skyline.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/NYC-skyline.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/03\/NYC-skyline.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Lightstone\u00a0has closed on $91 million\u00a0in financing to build Moxy East Village, its third Moxy location in\u00a0New York City. The company is developing the 285-key hotel at 112-120 East 11th\u00a0St. in partnership with Marriott.<\/p>\n<p>The deal was financed by the Bank of the Ozarks.<\/p>\n<p><em>\u201cWith its lively restaurant scene and vibrant nightlife, the East Village is the perfect location for our third Moxy hotel in\u00a0New York,\u201d <\/em>Mitchell Hochberg, Lightstone\u2019s president, said in a prepared release. <em>\u201cFeaturing a large array of amenities, efficient use of space, and lounges that bring travelers and the local community together, Moxy East Village will be a dynamic addition to the neighborhood. We look forward to working with Bank of the Ozarks and Marriott on this incredible project.\u201d<\/em><\/p>\n<p>The new hotel will be situated south of Union Square in the East Village, across from\u00a0Webster Hall. The design concept of the hotel will be based on urban archeology that references the city&#8217;s past, present and future. To that end, each floor will feature a different layer in Lower Manhattan&#8217;s history, creating a sense of discovery for guests.<\/p>\n<p>Moxy East Village will be a micro-guestroom, macro-amenity hotel and will boast smartly designed bedrooms, technology-savvy amenities, community-based social programming, rooftop fitness, coworking spaces, and six new eating and drinking establishments for guests and locals.<\/p>\n<p>Overall, Lightstone plans to develop 1,500 Moxy guestrooms in\u00a0New York City, including the brand\u2019s 612-key flagship <a href=\"https:\/\/www.commercialsearch.com\/news\/lightstone-lands-260m-refi-for-times-square-hotel\/\">U.S. hotel in Times Square<\/a> that opened in the fall of 2017. Additionally, <a href=\"https:\/\/www.commercialsearch.com\/news\/lightstones-chelsea-moxy-hotel-tops-out\/\">Moxy Chelsea hotel<\/a> will open this fall. Earlier this month, the 349-key hotel topped out.<\/p>\n<h2><strong>Strengthening the Brand<\/strong><\/h2>\n<p>The Moxy brand, launched by Marriott in 2014 as a stylish-but-affordable line of hotels with a focus on communal spaces, appears to be a winner for Lightstone when it comes to getting the lending community\u2019s attention.<\/p>\n<p>The company is also developing seven Moxy properties across the U.S., with one in South Beach,\u00a0Miami, one in downtown\u00a0Los Angeles\u00a0and one in\u00a0West Hollywood.<\/p>\n<p>Currently, Lightstone is active in 28 states across the nation, developing, managing and investing more than 176 existing properties in its\u00a0$3 billion\u00a0portfolio.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company has received $91 million from the Bank of the Ozarks to build Moxy East Village, a 285-key hotel at 112-120 East 11th St.<\/p>\n","protected":false},"author":451,"featured_media":1004213691,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21751,1600,21742,10],"tags":[33259,33258,33877,33261],"class_list":["post-1004213625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-hotel","category-new-york","category-latest","category-northeast","tag-bank-of-the-ozarks","tag-lightstone-group","tag-marriott","tag-mitchell-hochberg"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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