January 11, 2017
Bank of the Ozarks provided the financing for the latest Moxy Hotel planned for Manhattan.
Lightstone, a national real estate investor and developer, is building four of its Moxy hotels in New York City in partnership with Marriott, totaling 1,500 rooms. The brand’s flagship hotel is scheduled to open 618 rooms in Times Square this year.
The financing for the latest, a 349-room, 37-story hotel on West 28th Street, includes construction loans and equity from an institutional investor.
“We are very excited partnering once again with Bank of the Ozarks on this Moxy development,” said Lightstone President Mitchell Hochberg.