HFZ Capital Group
TypePrivate
IndustryReal estate
Founded2005
FounderZiel Feldman
Headquarters
New York, New York
,
U.S.
Key people
Ziel Feldman (chairman)
Websitehfzcap.com

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]

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

  1. ↑ Marino, Vivian (January 8, 2013). "The 30-Minute Interview: Ziel Feldman". The New York Times. Retrieved December 29, 2019.
  2. ↑ "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.
  3. ↑ 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.
  4. ↑ Pincus, Adam (September 1, 2010). "Buying with 'zeal'". The Real Deal. Retrieved December 29, 2019.
  5. ↑ "The Power 100: Commercial Real Estate's Most Powerful Players". Commercial Observer. April 23, 2019. Retrieved December 29, 2019.
  6. ↑ Clarke, Katherine (July 1, 2013). "Ziel Feldman". The Real Deal. Retrieved December 29, 2019.
  7. ↑ "Developer Sets Deal to Buy 4 Manhattan Buildings". The Wall Street Journal. July 17, 2013. Retrieved December 29, 2019.
  8. ↑ Clarke, Katherine (November 8, 2016). "HFZ completes $500M refi on four-building condo portfolio". The Real Deal. Retrieved December 29, 2019.
  9. ↑ Barbanel, Josh (March 12, 2015). "The Belnord on Upper West Side Gets a New Owner". The Wall Street Journal. Retrieved December 29, 2019.
  10. ↑ 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.
  11. ↑ Carmiel, Oshrat (May 21, 2015). "Bjarke Ingels NYC Condos Won't Be at Ultra-Luxury Prices". Bloomberg News. Retrieved December 29, 2019.
  12. ↑ "HFZ lists penthouse at Chelsea megaproject for $25M". The Real Deal. April 20, 2018.
  13. ↑ "HFZ unveils retail space at new XI on Chelsea waterfront". Real Estate Weekly. March 20, 2019. Retrieved December 29, 2019.
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