Ziel Feldman, principal and founder of HFZ Capital Group, is set to embark on an ambitious renovation of the historic Chatsworth apartment building following a year-end deal to buy the property for $150 million.
“We’ve always been attracted to classic buildings with a wonderful history like a number of the buildings on the Upper West Side,ˮ said Feldman.
“The Chatsworth is an excellent example of the type of turn of the century architecture that HFZ is skilled at updating and restoring.”
Lipa Lieberman, senior director at Eastern Consolidated, arranged the sale with executive managing director David Schechtman, senior director Azita Aghravi and director financial services Gary Meese.
“We are excited with the sale of this historic, iconic residence, certainly classed in the same league as The Dakota, the Apthorp and the Belnord,” said Lieberman.
Built in 1902 and typifying the Beaux-Arts style, the building has 139 studio, 1, 2, 3 and 4-bedroom apartments, the bulk of which are rent stabilized. Its façade has bursts of sculptural decoration and the middle section is made of red brick and terra cotta, topped off with a mansard roof.
In 2010, its 4,000 s/flobby was restored to the early 1900’s design by a historical architectural paint designer. The distinctive property features two 12-story towers with a connecting lobby .Located at 344 West 72nd Street, it has been owned for three generations by the same family.
Harold Levine Esq., David H. Cohen, Esq., Michelle Greenberg, Esq. and Thomas Huszar, Esq. of Moritt Hock & Hamroff LLP represented the seller, while Andrew W. Albstein, Esq., Steve Uffner, Esq., and Robert LoSchiavo, Esq. of Weprin Finkel Goldstein LLP acted on behalf of the buyer.