Lightstone Closes Financing for Moxy in Manhattan

NEW YORK—Real estate investor/developer Lightstone has closed on financing for a new 349-room hotel on West 28th St. in Manhattan’s NoMad section. The property is one of four Moxy hotels it’s developing in New York in partnership with Marriott, with financing from Bank of the Ozarks and an institutional investor. 

This particular Moxy will be 37 stories and will have a lobby lounge, fitness center and meeting rooms, as well as first floor and rooftop dining and bar options. Also in development is the brand’s 618-room flagship U.S. property in Times Square, which is scheduled to open in 2017. Lightstone is developing seven Moxy properties across the U.S., with locations in South Beach, Miami, downtown Los Angeles and West Hollywood, CA.