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Project: 112-120 East 11th Street

David Lichtenstein’s Lightstone Group is planning to build a new, approximately 300-key hotel in the East Village, with Marriott International’s Moxy Hotels serving as the brand, several sources told The Real Deal.

The firm is drafting plans for an 85,000-square-foot building on the site, which extends from 112 to 120 East 11th Street, between Third and Fourth avenues, the sources said.

The project is slated to rise on a site that holds a portion of the six-building multifamily portfolio that Lightstone acquired in April for $127 million from Pan Am Equities. That deal closed with an $85 million acquisition loan from Goldman Sachs.

One of those buildings, 85 East 10th Street — which represented $75.4 million of the total purchase price — is not going to be part of the project. In fact, Lightstone wants to sell it, and hired a team from Meridian Capital Group to bring the 121-unit, 69,100-square-foot rental building to market.

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TRD