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  #61  
Old Posted Mar 4, 2017, 2:45 PM
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  #62  
Old Posted Mar 17, 2017, 10:25 PM
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  #63  
Old Posted Mar 26, 2017, 1:44 PM
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  #64  
Old Posted May 10, 2017, 2:18 PM
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HFZ closes on $1.25B construction loan for Chelsea megaproject

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Ziel Feldman’s HFZ Capital Group closed Tuesday on a $1.25 billion construction loan for its Chelsea megaproject the Eleventh, The Real Deal has learned. The construction loan, from the Children’s Investment Fund (TCI), is one of the largest of this cycle, particularly for a project with a large residential condominium component.

The project is expected to cost $1.9 billion, giving the financing a loan-to-cost ratio of 66 percent. The 950,000-square-foot development consists of two Bjarke Ingels-designed towers and includes 240 condos, a 137-key five-star hotel operated by Six Senses Hotels Resorts Spas, and a 90,000-square-foot retail component. HFZ has said that asking prices for the apartments will range from $4 million to $8 million. Condo sales are slated to launch later this year, and the project’s completion is expected in 2019.

The deal puts an end to HFZ’s roughly 18-month search for financing. The firm paid an investment group led by Edison Properties $870 million, or $1,100 per buildable square foot, for the site at 76 11th Avenue, between West 17th and 18th streets, in 2015. A consortium of lenders including JPMorgan Chase, BlackRock and SL Green Realty provided $1 billion in acquisition and predevelopment financing at the time.
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  #65  
Old Posted May 28, 2017, 11:46 PM
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  #66  
Old Posted Jul 20, 2017, 10:29 PM
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  #67  
Old Posted Jul 31, 2017, 12:07 AM
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Base of the tower crane is up in the south western corner.
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  #68  
Old Posted Oct 1, 2017, 1:58 PM
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  #69  
Old Posted Nov 4, 2017, 2:18 PM
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  #70  
Old Posted Nov 4, 2017, 6:56 PM
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Decent midrise filler.
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  #71  
Old Posted Jan 10, 2018, 1:37 AM
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  #72  
Old Posted Jan 19, 2018, 11:24 PM
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  #73  
Old Posted Jan 21, 2018, 11:17 AM
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this new bjarke ingell’s joint on long forelorn parking lots is well underway with constant activity these days — this is from the day before yesterday:






staging area


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  #74  
Old Posted Jan 21, 2018, 4:17 PM
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Really nice!

Related's Hearherwick project next door has started too.
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  #75  
Old Posted Jan 27, 2018, 12:05 AM
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  #76  
Old Posted Jan 28, 2018, 11:02 PM
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  #77  
Old Posted Feb 6, 2018, 2:03 AM
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  #78  
Old Posted Feb 28, 2018, 2:24 AM
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  #79  
Old Posted Feb 28, 2018, 3:49 AM
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Just when you think that Gotham couldn’t get any better, a new icon begins to rise!
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  #80  
Old Posted Feb 28, 2018, 3:36 PM
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I can't believe it's almost $2 billion.
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