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Debt & Equity

Lightstone closes on $155M financing for newest Chelsea hotel

National real estate investor and developer Lightstone announced the closing of $155 million in financing from LoanCore Capital and KSL Capital Partners for Moxy Chelsea, a 349-key Marriott brand hotel on West 28th Street in Chelsea.

The hotel opened on February 14, 2019 and is the second of five Lightstone developed Moxy hotels to open in New York City.

Rising 35 stories high, Moxy Chelsea is a collaboration by design firms Yabu Pushelberg and Rockwell Group and architects Stonehill Taylor. The affordable micro-room, macro-amenity hotel blends botanically inspired design with Italian romance.

“Moxy Chelsea is a secret garden amidst the hustle and bustle of Manhattan, providing the perfect refuge for visitors and neighborhood residents with its stylish design and exciting amenities,” said Lightstone President Mitchell Hochberg.

“We’re delighted to work with LoanCore and KSL on this refinancing and are pleased with their support for Moxy Chelsea.”

On the ground floor of Moxy Chelsea is an Italian ristorante and caffè, Feroce, a new concept from Francesco Panella of Antica Pesa, the restaurant in Rome and Brooklyn, and TAO Group.

The hotel’s second floor lobby includes a conservatory, Bar Feroce, meeting studios, a co-working lounge, and an all-season garden terrace featuring a terra-cotta pizza oven and a Made-for-Moxy bocce drinking game.

Topping off Moxy Chelsea on the 35th floor, is The Fleur Room, a glass-enclosed rooftop lounge that offers 360-degree panoramic views stretching from the Statue of Liberty to the Empire State Building.

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