The Real Deal New York

Tribeca Associates secures $105M loan for FiDi Moxy Hotel

The hotel was completed earlier this month
By Christian Bautista | August 08, 2018 12:00PM

A rendering of Moxy Hotel (Credit: Saperstones)

Tribeca Associates landed a $105 million for a newly completed Moxy Hotel in the Financial District.

The property, at 143 Fulton Street between Broadway and Nassau Street, is a 30-story tower with 298 rooms. SLCE Architects designed the new 364-foot-tall, 129,000-square-foot structure. The bottom two floors, which face Fulton Street, have been earmarked for retail. The third floor, meanwhile, will contain a bar. Tribeca completed construction on the site earlier this month.

The new mortgage replaces a $61 million construction loan from Bank of the Ozarks in 2016. AllianceBernstein assumed the existing debt on the property and provided a $44 million gap mortgage, according to records filed with the city Wednesday.

Tribeca’s hotel is the second Moxy location to open in New York City. The Marriott-affiliated-brand opened its flagship location at 485 Seventh Avenue last year.

Tribeca — led by Bill Brodsky, Eliott Ingerman and Mark Gordon — acquired the ground lease for the site for $54.1 million in 2016. The hotel, which has the alternate address 26 Ann Street, replaced a three-story commercial building. Representatives for Tribeca and Alliance Bernstein did not immediately respond to requests for comment.

Dustin Stolly and Jordan Roeschlaub at Newmark Knight Frank arranged the debt on behalf of Tribeca Associates.