HFZ Capital Group
HFZ Capital Group is a real estate development and investment company based in New York City. Ziel Feldman founded HFZ in 2005 and serves as chairman.[1][2][3][4] As of 2019, HFZ manages more than $10 billion worth of development.[5]
Type | Private |
---|---|
Industry | Real estate |
Founded | 2005 |
Founder | Ziel Feldman |
Headquarters | , U.S. |
Key people | Ziel Feldman (chairman) |
Website | hfzcap |
History
Prior to launching HFZ in 2005, Feldman was principal at the national development firm Property Markets Group (PMG), which he co-founded with Kevin Maloney in 1991. At PMG, Feldman also worked with Gary Barnett of Extell Development Company.[6]
In 2013, HFZ and partner Fortress Investment Group purchased four Manhattan rental buildings, including The Astor, from Westbrook Partners for more than $610 million. HFZ then converted the properties into for-sale condominiums.[7][8]
In March 2015, HFZ acquired The Belnord on the Upper West Side of Manhattan from Extell for about $575 million.[9] HFZ hired architect Robert A. M. Stern for the renovation and conversion of the pre-war building into a condominium.[10]
In May 2015, HFZ acquired a full-block site in Chelsea, Manhattan between 17th and 18th Street, and 10th and 11th Avenue for $870 million from Edison Properties. HFZ is developing the property into a two-tower mixed-use development called The XI.[11][12] Designed by architect Bjarke Ingels, The XI will house 236 condos and Six Senses first hotel in the U.S.[13]
References
- Marino, Vivian (January 8, 2013). "The 30-Minute Interview: Ziel Feldman". The New York Times. Retrieved December 29, 2019.
- "One New York developer, two projects and US$3.4 billion of new flats". South China Morning Post. Hong Kong. Bloomberg News. June 11, 2018. Retrieved December 29, 2019.
- Fung, Amanda (January 7, 2013). "Developer turns flops to gold: With a pipeline full of reborn condo projects, Ziel Feldman is man of the hour" (PDF). Crain's New York. Vol. XXIX, no. 1. p. 3. Retrieved December 29, 2019.
- Pincus, Adam (September 1, 2010). "Buying with 'zeal'". The Real Deal. Retrieved December 29, 2019.
- "The Power 100: Commercial Real Estate's Most Powerful Players". Commercial Observer. April 23, 2019. Retrieved December 29, 2019.
- Clarke, Katherine (July 1, 2013). "Ziel Feldman". The Real Deal. Retrieved December 29, 2019.
- "Developer Sets Deal to Buy 4 Manhattan Buildings". The Wall Street Journal. July 17, 2013. Retrieved December 29, 2019.
- Clarke, Katherine (November 8, 2016). "HFZ completes $500M refi on four-building condo portfolio". The Real Deal. Retrieved December 29, 2019.
- Barbanel, Josh (March 12, 2015). "The Belnord on Upper West Side Gets a New Owner". The Wall Street Journal. Retrieved December 29, 2019.
- Warerkar, Taney (April 5, 2017). "Upper West Side rental will get a Robert A.M. Stern-designed condo conversion". Curbed NY. Retrieved December 29, 2019.
- Carmiel, Oshrat (May 21, 2015). "Bjarke Ingels NYC Condos Won't Be at Ultra-Luxury Prices". Bloomberg News. Retrieved December 29, 2019.
- "HFZ lists penthouse at Chelsea megaproject for $25M". The Real Deal. April 20, 2018.
- "HFZ unveils retail space at new XI on Chelsea waterfront". Real Estate Weekly. March 20, 2019. Retrieved December 29, 2019.