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building at 116 East 11th Street

Started by carah_1676245
over 9 years ago
Posts: 0
Member since: May 2015
Does anyone know the status of this building? I have been here less than 10 months and it is rumored to have been sold to new management. Does anyone know the name of the new owner?
Response by 30yrs_RE_20_in_REO
over 9 years ago
Posts: 9877
Member since: Mar 2009

The last recorded sale I see is back in 2014, but there was a recent financing by Goldman Sachs Bank given to
US-DEV ASSOCIATES II LLC
C/O THE LIGHTSTONE GROUP
1985 CEDAR BRIDGE AVE., SUITE 1
LAKEWOOD,NJ 08701

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Response by JMZUno
over 9 years ago
Posts: 0
Member since: Jul 2015

Hey there... By now I am sure you have gotten a letter about this. I live in the building across the backyard from you (85 East 10th Street), and 112-120 e11th and my building were sold to US-DEV ASSOCIATES II LLC
which is a holding company for the Lightstone Group.

Rumor has it that all the 11th street buildings, (including yours) will be demolished to make room for a hotel development -- most likely a "Moxy Hotel", (which is a new brand by Marriott). I don't have info on when this will occur, but the tenants of 112-120 e 11th are not being offered lease renewals, and I think there may have been some buyouts. I think it will happen before the end of the year.

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