MOXY NYC IS CLOSED
The Real Deal reports that local real estate developers Tribeca Associates have given the Moxy NYC Downtown hotel at 26 Ann/143 Fulton back to its lender — AllianceBerstein. The company opened the 30-story hotel in 2018; they acquired the property in 2015 for $54.1 million.

11 BEACH RESIDENTS SUE DEVELOPER
The residents of HFZ Capital Group’s 11 Beach St. filed suit in state Supreme Court claiming that the work the developer did on the building was “amateurish at best and grossly negligent at worst.” Crain’s reports that the condo owners are “suffering through water leaks, warped floors and broken electrical outlets and are accusing the beleaguered developer of taking money for itself that was meant for the building.”

BLACK WALL STREET GALLERY VANDALIZED
The Mercer Street art gallery commemorating the 100th anniversary of the Tulsa Race Massacre was vandalized and police are investigating it as a hate crime. This report from CBS News though there are lots of others. “It’s to be expected,” said Dr. Ricco Wright, owner of Black Wall Street Gallery. “I’m not shocked nor surprised. This is a 21 piece salute to the ancestors who lost their lives in the 1921 Tulsa Race Massacre.”

WONDERING ABOUT OFFICE WORKERS?
The figures on empty Manhattan office space continue to grow: Crain’s reports that vacancy rates have reached a record 17.1%, according to a report from Colliers International. “That’s up from 16.5% in April and 10.3% a year ago even as some companies have started easing employees back into the office and more of the city’s population is getting vaccinated…There’s about 92 million square feet of space that’s yearning for tenants, the report said, and despite 1.53 million square feet of leasing activity last month, that glut is going to keep bogging down prices.”