[NYguy]

This one is coming back, though likely with a new design...


http://www.nypost.com/p/news/busines...FCExDgynWTx6nK

Skating for deal at Bryant Park


By LOIS WEISS
March 7, 2013

Ziel Feldman has brought in a new investor and still intends to develop a condo-hotel on his prime site opposite Bryant Park.

Feldman’s joint venture for 12-20 W. 40th St. sold the site for $83 million, but the developer will remain in the deal with the new partnership, The Post has learned.

He recently invested with Related Cos., CIM Group and Vornado Realty Trust on other projects. Related and CIM said they aren’t partners on this one.

Feldman, Acro Real Estate and the Taiber family initially gained control of the stalled site by buying the debt and then cutting a deal with the owners for about $50 million.

Globes, an Israel-based website, reported the transaction as a “sale.”

Laurie Golub, general counsel with Feldman’s company, HFZ Capital, told The Post the developer is still in the deal.

“HFZ’s plan is to develop it as a mixed-use hotel and residential in a dynamite location,” Golub said.

She did not believe an earlier design by Morris Adjmi for the prior developer would be resurrected but approvals are in place for a 32-story project of 186,940 square feet.

It could not be learned which of the two other investors sold their stake or which company is the new partner.