David Marx lands $202M refi for Hudson Yards hotel

Deal replaces 2018 debt from Moinian Group

TRD 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.

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