therealdeal.com – David 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