Lightstone Value Plus REIT IV is a non-traded REIT that owns and operates two real estate assets in New York City. Its core asset is the Williamsburg Moxy Hotel, a 216-room Marriott-branded lifestyle hotel in Brooklyn, which drives nearly all of the company's revenue. The hotel generates revenue from room rentals (~69% of hotel revenue) and food and beverage operations (~31%). Key operating metrics include occupancy, average daily rate, and RevPAR. The company also holds a ~33% minority interest in a joint venture that developed a 29-unit luxury condo building on Manhattan's Upper East Side; with 27 of 29 units sold, this investment is largely wound down. Lightstone REIT IV is externally managed by Lightstone Real Estate Income LLC, an affiliate of The Lightstone Group, and has no employees of its own. The Advisor earns monthly asset management fees plus potential acquisition, disposition, and performance-based fees. The hotel operates under a 30-year Marriott franchise agreement and is managed by third-party operators. The hotel carries a $95M mortgage bearing interest at SOFR plus 5.10% (floor of 8.75%), maturing in April 2027. The company is structured as a REIT but has not paid distributions since March 2020 due to ongoing net losses. Shares are not listed on any exchange, and shareholder liquidity is extremely limited.