HFZ Capital Group is a real estate development and investment company based in

New York City New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...

. Ziel Feldman founded HFZ in 2005 and serves as chairman. As of 2019, HFZ manages more than $10 billion worth of development.

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 Extell Development Company is an American real estate developer of residential, commercial, retail, hospitality, and mixed-use properties. Founded in 1989 by Gary Barnett, the company’s portfolio exceeds 20 million square feet. The company has ...

. In 2013, HFZ and partner Fortress Investment Group purchased four Manhattan rental buildings, including

The Astor The Astor is a building at 235 West 75th Street, on Broadway between 75th and 76th Streets, on the Upper West Side of Manhattan in New York City. William Waldorf Astor hired the ubiquitous New York City architects Clinton and Russell to design the ...

, from Westbrook Partners for more than $610 million. HFZ then converted the properties into for-sale condominiums. In March 2015, HFZ acquired

The Belnord The Belnord is an apartment building at Broadway and 86th Street on the Upper West Side of Manhattan in New York City. It is a New York City Landmark and it was added to the National Register of Historic Places in 1980. Construction The Belnor ...

on the

Upper West Side The Upper West Side (UWS) is a neighborhood in the borough of Manhattan in New York City. It is bounded by Central Park on the east, the Hudson River on the west, West 59th Street to the south, and West 110th Street to the north. The Upper West ...

of Manhattan from Extell for about $575 million. HFZ hired architect Robert A. M. Stern for the renovation and conversion of the pre-war building into a

condominium A condominium (or condo for short) is an ownership structure whereby a building is divided into several units that are each separately owned, surrounded by common areas that are jointly owned. The term can be applied to the building or complex ...

. In May 2015, HFZ acquired a full-block site in

Chelsea, Manhattan Chelsea is a neighborhood on the West Side of the borough of Manhattan in New York City. The area's boundaries are roughly 14th Street to the south, the Hudson River and West Street to the west, and Sixth Avenue to the east, with its northern b ...

between 17th and 18th Street, and 10th and 11th Avenue for $870 million from

Edison Properties Edison Properties is a privately owned real estate holding and development firm based in Newark, New Jersey founded in 1956. The company has holdings in New Jersey, New York City, and Baltimore including many parking lots marketed under ParkFast a ...

. HFZ is developing the property into a two-tower mixed-use development called

The XI One High Line (formerly The XI and The Eleventh) is a pair of buildings in New York City designed by architectural firm BIG. The complex will include 247 condominiums, a 137-room Six Senses hotel, of retail space, art space, a spa and club. Pla ...

. Designed by architect

Bjarke Ingels Bjarke Bundgaard Ingels (; born 2 October 1974) is a Danish architect, founder and creative partner of Bjarke Ingels Group (BIG). In Denmark, Ingels became well known after designing two housing complexes in Ørestad: VM Houses and Mountain D ...

, The XI will house 236 condos and Six Senses first hotel in the U.S.

References

External links

* {{Official website, https://www.hfzcap.com/ Companies based in Manhattan Real estate companies of the United States American companies established in 2005 2005 establishments in New York City