David Marx lands $202M refi for Hudson Yards hotel

Deal replaces 2018 debt from Moinian Group

New York /
Oct.October 25, 2019 06:25 PM
461 West 34th Street with Marx Development Group's David Marx (Credit: Google Maps)

461 West 34th Street with Marx Development Group’s David Marx (Credit: Google Maps)

David Marx’s Marx Development Group secured a $202 million refinancing for its Hudson Yards hotel, which is scheduled to open next month.

Mack Real Estate Credit Strategies provided the debt for the 29-story Courtyard by Marriott at 461 West 34th Street, according to a public record filed Friday. The deal includes a new $76.5 million gap mortgage.

Mack did not immediately return a request for comment. A representative from Marx was not available Friday evening.

A little over a year ago the Moinian Group refinanced the 399-room hotel, which sits at the corner of 10th Avenue, with a $125 million deal. 

Marx acquired the site more than a decade ago and financed the project with the Moinian funds, Israeli bonds and EB-5 money.

The Marriott website taking room reservations for the hotel calls it the Courtyard New York Manhattan/Midtown West. It says the hotel will open in November but doesn’t list room availability until December, when rates range from $202 to $493 per night.


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
The Observation Deck at Hudson Yards (Credit: Adam Pogoff)
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Views from 1,100 feet: A tour of Related’s “the edge,” the tallest outdoor observation deck in the Western Hemisphere
Facebook CEO Mark Zuckerberg and Hudson Yards (Credit: Getty Images and Wikipedia)
Facebook close to finalizing Hudson Yards office deal: report
Facebook close to finalizing Hudson Yards office deal: report
Sen. Michael Gianaris (iStock, Getty)
Gianaris: State should buy, convert distressed hotels and offices
Gianaris: State should buy, convert distressed hotels and offices
(Getty)
Hotel stocks went bonkers in February
Hotel stocks went bonkers in February
Larry Korman and Joe Lubeck (iStock)
Electra America, AKA launch $500M hotel fund
Electra America, AKA launch $500M hotel fund
(Photo illustration by The Real Deal)
Underwater hotel owners are walking away from their properties
Underwater hotel owners are walking away from their properties
(iStock/Illustration by Alexis Manrodt for The Real Deal)
Manhattan job losses in Q3 worst of any large county in the US
Manhattan job losses in Q3 worst of any large county in the US
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...