76 11th Avenue: A Groundbreaking Development for HFZ

Spanning 800 000 square feet, HFZ Capital Group’s massive penthouse project will set the bar for designers everywhere. With individual penthouses measuring over 7000 feet, and all containing extra square feet of an expansive terrace, it is no surprise that the asking price would be millions of dollars.

by Mada Midun
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Spanning 800 000 square feet, HFZ Capital Group’s massive penthouse project will set the bar for designers everywhere. With individual penthouses measuring over 7000 feet, and all containing extra square feet of an expansive terrace, it is no surprise that the asking price would be millions of dollars.

The high line offers retail and commercial space at the base, as well as a circular highway that connects the two 25 story and 35 story buildings together. Each condo offers one, two, or three bedroom units, but even the smallest studio spaces are over 800 square feet long. In 2015, plans of a retail and office space were added in replacement of a hotel due to layout demand. It is for this reason that the project is already catching the eye of potential buyers. The combined efforts of the real estate investment and development group have made not only this, but also past projects exceptionally successful, such as the Tempo, Gerard, and 60 Beach Condominiums.

 

Founder Ziel Feldman offers a peek at the facilities of the two-tower construction, and it is nothing short of stunning architectural work. The managing director of development, John Simonlacaj, who has also already delivered successful and innovative projects in the past through his partnership with construction and finance teams, is undoubtedly going to execute another brilliant design plan at the 76 11th Avenue site. With over ten years of experience working with HFZ Capital Group, he has played a major leadership role in all phases of development, including planning, feasibility, programming, design, and the final construction.

 

Just in the past year, Simonlacaj and the team at HFZ paid $1100 per square foot for a high-end development site in West Chelsea, a trapezoid-shaped project which was bought at a pricey $800 million. The property, which runs between 17th and 18th Streets from 10th Avenue to the West Side Highway, was a milestone for Feldman and HFZ to construct the largest building in the area.

 

In the past, HFZ and its team of developers have been in the spotlight for a variety of unique and expensive condominiums, such as the Halycon at 305 East 51st Street, The Astor at 235 W 75th Street, and the Bryant, which was the first residential condominium in New York City. While HFZ is known in real estate media for its luxurious condominiums and skyline defining buildings, it also deals with rental, commercial, and other revitalization projects as well.

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