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Financing

David Marx lands Refi for 461 West 34th Street

Moinian provided the financing

461 West 34th Street (Credit: Andrew Campbell Nelson / YIMBY)

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.

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