450 11th Ave

David Marx has secured $185 million in refinancing for his Hudson Yards hotel project at 450 11th Avenue. Originally planned as an Aloft hotel, the project has been rebranded as part of Marriott’s Tribute portfolio, a collection of high-end boutique hotels. Marx obtained financing from Madison Realty Capital and Cerberus Capital Management, including an $89 million senior loan and a $44 million mezzanine loan. The 51-story, 379-key hotel is set to open next year and will feature various amenities, including a multi-level restaurant, spa, fitness center, business center, lounge, bar, ballroom, and conference spaces.