Real Estate

Lightstone Group plans 300-key East Village hotel: sources

therealdeal.comDavid Lichtenstein’s Lightstone Group is planning to build a new, approximately 300-key hotel in the East Village, with Marriott International’s Moxy Hotels serving as the brand, several sources told The Real Deal.

The firm is drafting plans for an 85,000-square-foot building on the site, which extends from 112 to 120 East 11th Street, between Third and Fourth avenues, the sources said.

The project is slated to rise on a site that holds a portion of the six-building multifamily portfolio that Lightstone acquired in April for $127 million from Pan Am Equities. That deal closed with an $85 million acquisition loan from Goldman Sachs.

Categories: Real Estate

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