An inviting birdcage seat is suspended from the ceiling, which is adorned with pinup girl prints and a chandelier.Īdjacent to the lobby is the subdued and sultry piano lounge Silver Lining, where dreamy blue velvet banquettes are installed against shimmering wallcoverings complemented by objets d’art inspired by the life and career of Andy Warhol. Sofas and armchairs are paired with marble-topped tables accented with brass, while a seven-foot-tall bear sporting a hula hoop overlooks the scene. The Bowery’s history as an entertainment hub aptly complements the playful signatures of Moxy, beginning with a catwalk entrance that leads to an artful interior courtyard and a first-floor lobby comprising a versatile coworking space and the Fix, a bar and all-day café. People come to the neighborhood to indulge their thirst for discovery, and they’ll get that at the Moxy, too-and we’ve made it accessible rather than exclusive.” “By providing a stunning variety of venues and concepts under a single roof, the hotel really embodies the diversity of the Lower East Side.
We saw it as the next logical frontier for Moxy,” says Lightstone president Mitchell Hochberg. “The Lower East Side has always been iconically cool. The 303-room urban retreat, the Marriott brand’s fifth outpost in Manhattan, features architecture by Stonehill Taylor and interiors by Michaelis Boyd and Rockwell Group that layer dazzling references to the neighborhood’s eclectic, vibrant soul. The $2.2 billion MSG Sphere has seen its costs soar five years after breaking ground – as it now exceeds the cost of the $1.9 billion, 65,000-seat Allegiant Stadium used by the neighboring Las Vegas Raiders of the National Football League – yet the entertainment complex is still on track to open this September.Moxy Hotels has expanded its New York footprint with the launch of the Moxy Lower East Side. MSG’s 8-K report, released April 17 in conjunction with the sale, noted that “Proceeds from the sale are expected to be used for general corporate matters, as well as Sphere initiatives.” The New York Post reported in January that Dolan could be tempted to use the proceeds of the sale to close a $600 million construction budget shortfall for the MSG Sphere, a 580,000-square-foot, 17,500-seat, exosphere entertainment venue the firm is building in Las Vegas. MSG had initially acquired its controlling stake in Tao Group Hospitality in 2017 for $181 million.Īnd while MSG Entertainment seems to be downsizing by offloading Tao, the sale appears to be a calculated move on the part of the multibillion-dollar James Dolan -owned conglomerate. south of Manhattan.Īs part of a multiyear separation agreement, Tao Group Hospitality will still retain MSG Entertainment as a consulting and marketing partner. Founded in 2017 by hotel investor Mark Scheinberg, Mohari has already acquired the Peninsula Papagayo property in Costa Rica, a 2,200-acre luxury resort and development anchored by two luxury hotels a Four Seasons hotel in Centro Canalejas Madrid, the first Four Seasons in Spain and is an investor in the Waldorf Astoria Hotel in Miami, an upcoming 91-story, 205-room luxury tower that upon completion will be the tallest residential building in the U.S. The deal adds another attractive asset into Mohari’s growing portfolio of luxury hospitality properties.
“Its global footprint of more than 80 branded locations in over 20 markets and best-in-class management infrastructure speaks to the group’s tremendous potential.” Allen Smith, managing partner of Mohari Hospitality, in a statement. “Tao Group has grown from an innovator in nightlife to a leader in premium lifestyle and hospitality,” said J. Tao Group Hospitality generated approximately $485 million in revenue in 2022, according to MSG Entertainment. Tao’s portfolio includes more than 80 branded locations across 20 cities – including LAVO restaurant and nightclubs in New York, Singapore and Los Angeles Hakkasan Mayfair Cantonese restaurants in London, Istanbul, Miami and Dubai Beauty & Essex restaurants in Las Vegas and New York and a number of namesake Tao restaurants in various American cities. Madison Square Garden Entertainment (MSG), which held a 70 percent majority stake in Tao Group Hospitality, is expected to pocket roughly $300 million in net proceeds from the sale, the company said in a statement. SEE ALSO: MG Lands $68M to Build Boutique Coral Gables Development
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