Marx Development is planning to bring a 531-room hotel to Hudson Yards, filing plans with the city this week for its building at 11th Avenue and 37th Street.
Marx, led by David Marx, wants to build a 487-foot, 273K SF structure at 450 11th Ave., New York YIMBY reports. The commercial part of the building, which will reportedly be a Marriott Hotel, would span 212K SF. Demolition permits on the site were filed back in February.
Marx has raised around $66M in EB-5 financing, and last month reportedly scored an $88M construction loan from Mack Real Estate Credit Strategies.
The Hudson Yards District is starting to take shape, with Tishman Speyer kicking off construction on its $3.7B tower the Spiral at 66 Hudson Bvld. in April and 55 Hudson Yards set to open this fall.
The Marriott on 11th Avenue will have plenty of competition in the area. Brookfield is planning a 164-room Pendry Hotel as part of its Manhattan West development and luxury gym Equinox is planning a hotel in Hudson Yards with more than 200 rooms.
