Hotel developer Lightstone Group is building a fourth Moxy Hotel in Manhattan’s Bowery neighborhood.
The new hotel will be located at 151 Bowery, which last sold for $23.5 million in 2014. Lightstone is looking to acquire the building from Emmut Properties for an undisclosed amount. The building was previously a lighting store, and last year Emmut Properties sold three other light stores for a total of $24 million.
Lightstone has three other Moxy hotels in New York, located in Chelsea, Times Square and the East Village. These properties are part of Lightstone’s overall plan to operate 1,500 Moxy guestrooms in the city. The Moxy NYC Chelsea is expected to open October 2018, and Lightstone recently named Paul Ridguard GM of the hotel.
Lightstone remains active in the New York hotel market. In March the company acquired the 183-room Hilton Garden Inn Long Island for roughly $60 million.
Outside of New York, Moxy hotel developments are planned for Miami, Los Angeles and Hollywood.
Moxy is a boutique lifestyle hotel brand launched by Marriott International. The brand has nearly 90 signings worldwide, with more than 26 of them to open in the U.S. The brand’s primary attributes include large public spaces, a library, plug-in zones, lounges, bars, keyless mobile entry, mobile check-in and check-out, screencasting in the hotel guestroom, motion-sensor lighting and free Wi-Fi.