Ziel Feldman, founder & principal of HFZ Capital Group, confirmed that the company has closed on its acquisition of The Belnord, the prewar rental that covers an entire city block from 86th to 87th Streets and from Broadway to Amsterdam Avenue.
Regarded as the one of the premier residential landmarks on Manhattan’s Upper West Side, The Belnord was added to the National Register of Historic Places in 1980.
The building was purchased from Extell Development Company for about $575 million, according to the Wall Street Journal
Built in 1908 and designed by the noted architect of the time, H. Hobart Weekes in a Renaissance-Revival style, The Belnord is 14 stories high with a 22,000 s/f interior courtyard and 218 residences, many of which contain original details including hardwood floors, fireplaces and decorative moldings that are the signature of a pre-war luxury residence.
Bracketed by Central Park and Riverside Park, the building is within walking distance of Zabar’s and Barney Greengrass, the American Museum of Natural History, the Planetarium, the Beacon Theatre, the Historical Society and Lincoln Center for the Performing Arts.
Recently HFZ entered into a contract to purchase 518 West 18th Street, encompassing a full city square block from 17th to 18th Streets between Tenth & Eleventh Avenues in Chelsea.
The recent acquisitions underscore HFZ’s commitment to restoring residential buildings while simultaneously developing ground up properties. “Our strategy has always been to own and/or develop the ‘best-in-class’ across a broad range of Manhattan communities,” noted Feldman.