Lightstone Group borrows $175M from Goldman Sachs for Moxy hotel in East Village

Lightstone Group through the entity US-Dev Associates LLC as borrower signed a loan agreement with lender Goldman Sachs valued at $175 million for the Moxy East Village hotel at 112 East 11th Street in East Village. The deal closed on December 19, 2019 and was recorded on December 23, 2019. It was the second major loan from Goldman provided on that day that has been recorded.
The property contains a total of 78,361 square feet of built space and 286 keys.

The loan from Goldman Sachs pays off a $91 million construction loan from Bank OZK. There remains a junior loan provided by Tri-State Loan Acquisitions totaling $57.1 million. The last time the property sold was April 21, 2016, for $52,100,000.
The DOB issued a new construction (NB) initial temporary certificate of occupancy for the building with 286 hotel units on August 5, 2019.
Lightstone recently borrowed $95 million against unsold condo units from Goldman Sachs at 40 East End Avenue, in a deal that closed on December 19.
Over the past five years, there have been 15 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $2,954,740.There has been one new building permit application totaling 80,091 square feet. Those plans include a total of 286 residential or hotel units. There have been 5 demolition projects filed over the past five years. The demolition included 89 residential units.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link