Moinian provided the financing
Marx Development Group’s David Marx has secured $125 million from the Moinian Group to refinance 461 West 34th Street. The newly built Marriott hotel is scheduled to open by the end of the year.
Financing Details: The new loan replaces $90 million in previous financing. The interest rate will be 1.85 percent or 4.15 percent over monthly Libor, whichever of the two is higher.
Dig Deeper: The hotel consists of 303 rooms, and street-level retail retail component. JP Morgan Chase has already inked a 10-year lease to occupy the space.