85,000 Square-Foot, 300-Key MOXY Hotel Planned At 112-120 East 11th Street, East Village

112-120 East 11th StreetPre-demolition 112-120 East 11th Street. Photo via Commercial Observer

This morning, we had hotel news for you. Now, we have more. In April, Lightstone Group acquired, for $127 million, a six-building, 181-unit residential portfolio for that comprises of 112-120 East 11th Street and 85 East 10th Street, in the East Village. The developer is currently planning to build a 85,000-square-foot, roughly 300-key boutique hotel at 112-120 East 11th Street, according to The Real Deal. Marriott International’s MOXY Hotels will be the operator. The five-story buildings at 112-120 East 11th Street currently contain 75 residential units across five buildings and are expected to be demolished. The other six-story, 106-unit building at 85 East 10th Street will remain and is expected to be sold off. The April acquisition was financed with an $85 million loan. The five apartment buildings at 112-120 East 11th Street represented $52.1 million, while the six story property at 85 East 10th Street traded for $75.4 million.

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2 Comments on "85,000 Square-Foot, 300-Key MOXY Hotel Planned At 112-120 East 11th Street, East Village"

  1. So not only are historical buildings destroyed, there will be 75 fewer apartments so that corporations can take their profits elsewhere.
    That’s progress…

  2. Onto a develop way go ahead, the quality of being removed from planner.

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