LaGuardia Marriott and development site combo sell for $100M
Joseph Moinian is barely hanging onto several of his existing properties, but the Iranian-born developer is still gearing up to build in New York. According to the Post, Moinian has filed plans with the Department of Buildings to tear down the vacant, five-story building at 237 West 54th Street and put a 34-story Gene Kaufman-designed hotel in its place — right next door to a 67-story Marriott Hotel planned by Harry Gross’ Broadway Granite Development. Moinian’s demolition application has already been approved, though the DOB is still reviewing the hotel plans. A representative for Moinian said the site is in “very preliminary” stages, and that the only work being done there so far is cleanup. Moinian had been seeking a joint venture partner for the site last year with the help of Marcus & Millichap, but the brokerage is no longer working on the project. Meanwhile, as The Real Deal reported yesterday, Moinian is facing a foreclosure lawsuit at rental apartment tower 100 John Street, where he defaulted on his $93 million mortgage. [Post]
