David Lichtenstein

Lightstone Group, led by David Lichtenstein, increased combined debt to $346 million by refinancing two NYC properties. In Manhattan, the Moxy Chelsea hotel at 105 West 28th Street secured a $177.8 million loan, replacing a $124 million loan from Loancore Capital. The property, acquired for $11.6 million in 2014, recently resolved a feud with neighboring condo owners. In Queens, Lightstone refinanced the 428-unit ARC luxury multifamily property at 30-02 39th Avenue in LIC with a $168 million loan from JLL. The previous $187 million loan from Citibank was surpassed. Lightstone bought the site in 2016 for $23 million.