Plans to bring a 300-room hotel to East 11th Street between Third Avenue and Fourth Avenue are progressing.
On Thursday, the Lighthouse Group filed permits with the city to demolish five buildings — 112 to 120 E. 11th St. — that will yield to the new property.
So basically everything from the Village Pourhouse building on Third Avenue to the building housing Amsterdam Billiards on the corner of Fourth Avenue will come down... if everything receives the proper approvals.
Back in May, The Real Deal reported that Lighthouse had plans for the new property, with Marriott International’s Moxy Hotels serving as the brand.
Per that article:
Moxy, the new Marriott brand which is targeting millennials with lower prices and a youthful vibe.
In early 2015, the company said it expected to spend $1 billion to develop four Moxy hotels in Manhattan, one in Brooklyn, and one in Los Angeles. Lightstone will spend another $1 billion on other Moxy projects around the country.
Two other Moxy projects in Manhattan are a proposed 36-story, 343-key hotel at 105 West 28th Street in Chelsea, and a 16-story, 618-key hotel at 485 Seventh Avenue, south of Times Square.
The Moxy website shows that the 11th Street property is expected in late 2018...
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To date, there aren't any plans on file for the hotel. So there isn't any word how large this development will be.
The Lightstone Group paid Pan Am Equities $127 million for the portfolio, which includes 85 E. 10th St. That building isn't expected to be part of the new development.
Previously on EV Grieve:
6-building complex on East 10th Street and East 11th Street sells for $127 million
Report: 300-room hotel planned for East 11th Street
Preservationists say city ignored pitch to designate part of 11th Street as a historic district