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Feldman’s HFZ adds to NoMad assemblage with $30M buy: Ziel Feldman planning 600K sf office tower on site, sources say

Ziel Feldman’s HFZ Capital Group picked up a NoMad property for $30 million, adding another piece to an assemblage where sources say the developer is planning a nearly 600,000-square-foot office building designed by Bjarke Ingels.

HFZ bought two lots at 20-22 West 30th Street from investor Henry Chen for $29.8 million, property records filed with the city Thursday show. A representative for the developer could not be immediately reached.

A pair of five-story buildings spanning roughly 20,000 square feet sits on the two properties, but if HFZ were to demolish the structures, the lots would hold roughly 50,000 square feet of development rights.

The properties are most likely part of an assemblage Feldman’s company is putting together on the block. At the same time HFZ purchased the properties, Canadian lender Otera Capital Investmentsthe refinanced eight of the developers properties on the block and added new debt to the tune of $147.7 million.

HFZ paid $75.43 million in 2013 to buy a quartet of properties from the Collegiate Reformed Protestant Dutch Church. The developer filed plans in October with the city Department of Buildings to construct a 34-story, 301,167-square-foot office building on the site with an address at 3 West 29th Street.

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TRD