# Lightstone Value Plus REIT Iv, Inc.

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/Lightstone Value Plus REIT Iv, Inc.).

## Overview

Lightstone Value Plus REIT IV, Inc. is a U.S.-based real estate investment trust that invests in operating properties, development projects, and real estate-related debt and preferred equity. Its portfolio is centered on development-oriented opportunities, including hotel and condominium projects, and it also holds interests in affiliated real estate ventures.

## Products & services

• Hotel ownership and operation through the Williamsburg Moxy Hotel
• Development and redevelopment real estate investments
• Mezzanine, mortgage, and bridge loans secured by real estate
• Preferred equity and other real estate-related investments
• Joint venture interests in affiliated property projects
• Select debt and derivative securities tied to real estate assets

- **Operating real estate** (55%) — Includes income-producing properties such as the Williamsburg Moxy Hotel and related food and beverage venues.
- **Development projects** (20%) — Includes ground-up and redevelopment projects such as condominium and hotel development interests.
- **Real estate debt investments** (10%) — Includes mezzanine loans, mortgage loans, and bridge loans secured by real estate assets.
- **Preferred equity and structured investments** (5%) — Includes preferred equity and other structured real estate-related investments.
- **Equity method joint ventures** (10%) — Includes earnings from unconsolidated affiliated real estate entities such as the 40 East End Avenue Joint Venture.

- Hotel ownership and operation through the Williamsburg Moxy Hotel
- Development and redevelopment real estate investments
- Mezzanine, mortgage, and bridge loans secured by real estate
- Preferred equity and other real estate-related investments
- Joint venture interests in affiliated property projects
- Select debt and derivative securities tied to real estate assets

## Customers

The company’s direct economic counterparties are tenants, hotel guests, condominium buyers, and joint venture partners rather than a broad retail customer base. Demand is driven by hospitality occupancy and pricing in Brooklyn, plus asset sales and development monetization in Manhattan and other real estate markets. Its lending and preferred equity activities serve real estate sponsors and developers seeking transitional capital.

- **Hotel guests** (primary) — Travelers and visitors staying at the Williamsburg Moxy Hotel and using its rooms and food-and-beverage venues.
- **Condominium buyers** (primary) — Purchasers of the remaining unsold units in the 40 East End Avenue project, which generate sale proceeds when closed.
- **Real estate sponsors and developers** (secondary) — Borrowers and counterparties that use the company’s mezzanine, mortgage, bridge loan, or preferred equity capital.
- **Joint venture partners** (secondary) — Affiliated or third-party partners that co-own projects and share cash flows, control rights, and exit proceeds.

- Hotel guests at Williamsburg Moxy, driving room and food-and-beverage revenue
- Condominium buyers purchasing completed units in the 40 East End Avenue project
- Real estate sponsors and developers seeking mezzanine or bridge financing
- Joint venture partners sharing capital, control, and cash flow economics
- Tenants or operators in properties held for investment or redevelopment

## Geography

The company is concentrated in the United States, with key assets in New York City. Its operating exposure is especially tied to Brooklyn’s Williamsburg neighborhood and Manhattan’s Upper East Side, making performance sensitive to New York real estate and hospitality conditions. The filing does not disclose a broader country revenue split, so the business should be viewed as domestically concentrated.

- **United States** (100%) — Operations and investments disclosed in the excerpts are U.S.-based, primarily in New York City.

- United States is the core operating and investment market
- Williamsburg, Brooklyn hosts the Moxy Hotel and related venues
- Upper East Side, Manhattan is tied to the 40 East End Avenue project
- New York City concentration increases exposure to local real estate cycles
- No country-level revenue split was disclosed in the excerpts

## Strategy

The company is focused on preserving liquidity while monetizing existing assets and supporting development-related investments. Near-term priorities include operating the Williamsburg Moxy Hotel, managing the remaining condominium inventory at 40 East End Avenue, and maintaining sufficient cash for debt service, operating costs, and REIT distribution requirements.

- **Monetize remaining condominium inventory** (short-term) — Selling the last unsold units converts development value into cash and reduces project risk.
- **Stabilize hotel operations** (short-term) — Hotel cash flow supports liquidity and helps fund corporate obligations and distributions.
- **Preserve balance sheet flexibility** (short-term) — The company needs cash for debt service, capital contributions, and REIT compliance distributions.
- **Pursue development-oriented real estate investments** (medium-term) — The portfolio is designed to capture higher-return opportunities in development and redevelopment.

- Maximize value from the Williamsburg Moxy Hotel and its venues
- Sell the remaining 40 East End Avenue condominium units
- Maintain liquidity for debt service and operating needs
- Use affiliated joint ventures to participate in development upside
- Seek accretive real estate and real estate-related investments

## Risks

The company is exposed to asset-specific execution risk because its value depends on a small number of projects, including a hotel and a condominium development. It also faces real estate market, financing, and liquidity risk, since cash flows must support debt service, capital needs, and REIT distribution requirements while property values and occupancy can fluctuate.

- **Asset concentration** [high] — A large share of value is tied to the Williamsburg Moxy Hotel and 40 East End Avenue project.
- **Hotel operating volatility** [medium] — Room occupancy, RevPAR, and food-and-beverage demand can change quickly with travel conditions.
- **Condominium sales execution** [medium] — The remaining unsold units must be sold to realize project value and generate cash.
- **Liquidity and debt service** [high] — The company must fund operating expenses, scheduled debt service, and possible capital contributions.
- **Joint venture governance** [medium] — Consent rights and shared ownership can slow decisions and affect capital allocation or exits.

- Concentration in a few New York assets increases single-project risk
- Hotel occupancy and RevPAR can swing with travel demand and pricing
- Unsold condominium units may take longer to sell or require discounts
- Debt service and refinancing depend on market liquidity and asset values
- Development and joint venture projects can require additional capital
- Real estate lending exposes the company to borrower and collateral risk

## Accounting

Reported results depend heavily on fair value, equity method, and consolidation judgments because the company holds both controlled and unconsolidated real estate interests. Hotel operations create seasonal and operating volatility, while condominium sales, insurance recoveries, and joint venture distributions can cause lumpy earnings and cash flow recognition.

- **Equity method investment accounting** — Can create volatility in reported income from period to period
- **Noncontrolling interests** — Reduces net income attributable to the company
- **Property depreciation** — Affects operating income and asset carrying values over time
- **Fair value and impairment judgments** — Can materially affect asset values and earnings
- **Insurance claim proceeds** — May distort underlying operating performance

- Equity method accounting affects earnings from the 40 East End Avenue JV
- Noncontrolling interests reflect Lightstone REIT III's 25% stake in the hotel JV
- Hotel revenue and expenses can be seasonal and occupancy-driven
- Property depreciation is straight-line over estimated useful lives
- Insurance claim proceeds and asset sales can create one-time gains or cash inflows

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*Last updated: 2026-04-28T20:22:59.307141+00:00*