Saturday, March 10, 2018

Report: Developer lands $91 million loan for the Moxy East Village


[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...



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...



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
at

3 comments:

  1. JQ LLCMarch 10, 2018 at 1:32 PM

    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.

    what 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/

    ReplyDelete
  2. cmarrtyyMarch 10, 2018 at 4:12 PM

    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
  3. JQ LLCMarch 10, 2018 at 9:14 PM

    @ccmartyy

    Most likely a homeless shelter. Although they could do that even when the Moxy is built and running.

    ReplyDelete

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