{"id":1004176555,"date":"2017-05-12T05:11:07","date_gmt":"2017-05-12T13:11:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004176555"},"modified":"2020-05-12T22:26:26","modified_gmt":"2020-05-13T06:26:26","slug":"hfz-bags-1b-loan-for-mammoth-nyc-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/","title":{"rendered":"HFZ Bags $1B Loan for Mammoth NYC Project"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<div id=\"attachment_1004176585\" style=\"width: 387px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004176585\" data-attachment-id=\"1004176585\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/the-eleventh-aerial\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;HFZ Capital Group&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;The Eleventh - which is slated to open in 2019 - features two soaring towers between the High Line and the Hudson River designed by award-winning architecture firm Bjarke Ingels Group and the first U.S. Six Senses Hotel. (PRNewsfoto\/HFZ Capital Group)&quot;,&quot;created_timestamp&quot;:&quot;1494374400&quot;,&quot;copyright&quot;:&quot;This image must be used within the context of the news release it accompanied. Request permission from issuer for other uses.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;The-Eleventh-Aerial&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"The-Eleventh\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;The Eleventh&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg?w=800\" class=\"wp-image-1004176585 \" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg\" alt=\"The Eleventh\" width=\"377\" height=\"283\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 377px) 100vw, 377px\" \/><\/a><p id=\"caption-attachment-1004176585\" class=\"wp-caption-text\">The Eleventh<\/p><\/div>\n<p>HFZ Capital Group has everything it needs to keep moving forward with the development of The Eleventh, a 900,000-square-foot luxury mixed-use destination that will take its place on the skyline of West Chelsea in downtown Manhattan. The real estate development and investment company just landed construction financing for the roughly $2 billion project. An <a href=\"https:\/\/therealdeal.com\/2017\/05\/09\/hfz-closes-on-1-25b-construction-loan-for-chelsea-megaproject\/\" rel=\"nofollow\">article in <em>The Real Deal<\/em><\/a> identified the lender as the U.K.\u2019s Children\u2019s Investment Fund, and put the loan amount at $1.25 billion.<\/p>\n<p>The Eleventh will take shape at 76 11th Ave., occupying a full block, with the High Line on one side and the Hudson River on the other. Designed by architectural firm Bjarke Ingels Group, the project will consist of two towers appearing to be in a semi-twist, on the verge of wrapping around each other. The 34-story high-rise to the west will house the majority of the 240 residential condominiums, while the 25-story building to the east will be home to the <a href=\"https:\/\/www.commercialsearch.com\/news\/luxury-hotel-brand-makes-us-landing-in-nyc\/\">137-room Six Senses New York hotel<\/a> and additional residences. The development will also feature 90,000 square feet of retail space and below-grade parking.<\/p>\n<p>HFZ is not commenting beyond the press release, which includes a prepared statement by Ziel Feldman, founder of HFZ Capital, remarking that the <em>\u201clender shares our vision for The Eleventh and the unique role it will play in contributing to the transformation and elevation of Manhattan&#8217;s far west side.&#8221;<\/em><\/p>\n<p>This isn\u2019t the first time HFZ was able to reel in big-ticket financing for The Eleventh. In 2015, the company turned to a consortium of lenders involving JPMorgan, BlackRock and SL Green Realty for approximately $1 billion of debt and equity financing for the $870 million purchase of the project site and the funding of pre-development activities. Omnibuild is serving as general contractor for The Eleventh, and expects to complete construction in 2019.<\/p>\n<p>Mixed-use projects in Manhattan are a lender favorite these days. Per a report by commercial real estate financial data provider CrediFi, office and mixed-use properties dominated the top loans in the fourth quarter of 2016.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Designed by architectural firm Bjarke Ingels Group, The Eleventh will consist of two towers appearing to be in a semi-twist, on the verge of wrapping around each other.<\/p>\n","protected":false},"author":969,"featured_media":1004176585,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21752,1600,21742,10],"tags":[35518,35517,35519],"class_list":["post-1004176555","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-mixed-use","category-new-york","category-latest","category-northeast","tag-bjarke-ingels-group","tag-hfz-capital-group","tag-ziel-feldman"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HFZ Bags $1B Loan for Mammoth NYC Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HFZ Bags $1B Loan for Mammoth NYC Project\" \/>\n<meta property=\"og:description\" content=\"Designed by architectural firm Bjarke Ingels Group, The Eleventh will consist of two towers appearing to be in a semi-twist, on the verge of wrapping around each other.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-12T13:11:07+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-13T06:26:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Barbra Murray\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/\",\"name\":\"HFZ Bags $1B Loan for Mammoth NYC Project - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg\",\"datePublished\":\"2017-05-12T13:11:07+00:00\",\"dateModified\":\"2020-05-13T06:26:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg\",\"width\":800,\"height\":600,\"caption\":\"The Eleventh\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"HFZ Bags $1B Loan for Mammoth NYC Project\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32\",\"name\":\"Barbra Murray\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g\",\"caption\":\"Barbra Murray\"},\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"HFZ Bags $1B Loan for Mammoth NYC Project - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/","og_locale":"en_US","og_type":"article","og_title":"HFZ Bags $1B Loan for Mammoth NYC Project","og_description":"Designed by architectural firm Bjarke Ingels Group, The Eleventh will consist of two towers appearing to be in a semi-twist, on the verge of wrapping around each other.","og_url":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2017-05-12T13:11:07+00:00","article_modified_time":"2020-05-13T06:26:26+00:00","og_image":[{"width":800,"height":600,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg","type":"image\/jpeg"}],"author":"Barbra Murray","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/","url":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/","name":"HFZ Bags $1B Loan for Mammoth NYC Project - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg","datePublished":"2017-05-12T13:11:07+00:00","dateModified":"2020-05-13T06:26:26+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg","width":800,"height":600,"caption":"The Eleventh"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/hfz-bags-1b-loan-for-mammoth-nyc-project\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"HFZ Bags $1B Loan for Mammoth NYC Project"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d1edda962dd3af55af8a203870f9fc32","name":"Barbra Murray","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/9a36d5070adb56de135886aa49db0452b319180ff050dbd70770fd33a3e63774?s=96&d=mm&r=g","caption":"Barbra Murray"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/barbra-murray\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/05\/The-Eleventh-courtesy-of-HFZ-Capital-Group.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004176555","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/969"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004176555"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004176555\/revisions"}],"predecessor-version":[{"id":1004437540,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004176555\/revisions\/1004437540"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004176585"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004176555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004176555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004176555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}