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 most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

. 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 Gary Lee Barnett (born May 23, 1946) is a former American football player and coach. He served as the head coach at Fort Lewis College (1982–1983), Northwestern University (1992–1998), and the University of Colorado at Boulder (1999–2005), ...

of Extell Development Company. In 2013, HFZ and partner

Fortress Investment Group Fortress Investment Group is an American investment management firm based in New York City. Fortress was founded as a private equity firm in 1998 by Wes Edens, Rob Kauffman, and Randal Nardone. When Fortress launched on the NYSE in February 200 ...

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. 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 Robert Arthur Morton Stern, usually credited as Robert A. M. Stern (born May 23, 1939), is a New York City–based architect, educator, and author. He is the founding partner of the architecture firm, Robert A.M. Stern Architects, also known a ...

for the renovation and conversion of the pre-war building into a condominium. 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 northe ...

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. Designed by architect Bjarke Ingels, 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