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[Photo from today, Saturday!]
An item from this past week to note: The Lightstone Group landed $91 million in financing for its Moxy hotel project on 11th Street, as The Real Deal reported.
Bank of the Ozarks provided the debt for the upcoming 311-key hotel at 112 East 11th Street, to be called Moxy East Village. The financing includes $63.1 million in new loans as well as an existing $27.9 million loan from Goldman Sachs that Bank of the Ozarks will now assume. Goldman Sachs previously provided $85 million to Lightstone for the project.
The Moxy website still lists an opening date of late 2018 for this hotel between Third Avenue and Fourth Avenue...
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To make that deadline, the crew here will need to pick it up... a look through the blogger portal on the double plywood shows that workers remain in the deep pit stages of the foundation...
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The 13-story hotel will include a variety of eating-drinking options and a dedicated Instagram account.
Previously on EV Grieve:
An updated look at that Moxy hotel for 11th Street
Something tells me that this will not get done and lightstone was in desperate need of cash. I bet the owner could use all that filthy lucre he donated to de Faustio right now.
ReplyDeletewhat are the options to eating-drinking?? Will the moxy provide feeding tubes for all confection snacks and alcohol? Or maybe troughs full of jager and sliders for groups?
https://impunitycity.wordpress.com/
Tourism is falling. There are too many hotel rooms. Airbnb is prospering... My fear is that Moxy will turn into an 11 story apt. building. The old bait'nswitch.
ReplyDelete@ccmartyy
ReplyDeleteMost likely a homeless shelter. Although they could do that even when the Moxy is built and running.