HFZ Capital Group is one of the most prolific condominium developers in New York City real estate. It is the culmination of avision. EisnerAmper Real Estate Services Group Partner Lisa Knee interviews HFZ Capital Group Chairman and Founder Ziel Feldman about forging a path from law to real estate development in Part 2 of this series. Ziel Feldman is the Founder and Principal of HFZ Capital Group. HFZ Capital Group. Developer to Pay Over $800 Million for Site Near High Line HFZ declined to comment on those allegations. free lookups / month. The deal paid off handsomely: In 2014, News Corporation chair Rupert Murdoch paid a whopping $57 million for a triplex penthouse. Anybody whos in the middle of developing something particularly condominiums, which is a timing business in the best of circumstances is just caught in that, he said. HFZ lender Monroe Capital tried to seize the Hamptons home, at 40 Meadow Lane, last year. The developer has lost several projects to its lenders and is struggling to hold onto the XI development. He added that he instructed Meir to try to achieve a reasonable result. After Barnett split from the group to focus on his own firm, Extell Development, and Maloney started to shift his attention to South Florida, Feldman and Meir broke off to launch HFZ in 2005. HFZ is also sparring with Barry Sternlichts Starwood Capital Group, which in October claimed in a lawsuit that the firm owes $157 million on loan payments tied to its Chatsworth project. HFZ and Feldman are appealing. The expert could not determine whether Feldmans signatures were forged. The Manhattan real-estate industry is a game of winners and losers, Feldman says, and even titans lose big sometimes. The 30-Minute Interview: Ziel Feldman - The New York Times No credit card required. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, L&L, Mitsubishi default on Plaza District office tower, NY Attorney General reviewing HFZ fraud complaint. July 09, 2021 03:36 PM. Others Named Ziel Feldman. Filings with the state attorney generals office show that as of April, just 38 units, or about 16 percent of the 236 condos, were in contract. In the downbeat days of the Great Recession, Feldman's HFZ Capital Group reveled in the crisis. (Gary Barnett, an ex-diamond trader, joined a few years later.). Ziel has 1 job listed on their profile. The complaint also names lenders JPMorgan Chase and CIM Group, claiming they were aware of the violations and turned a blind eye. EisnerAmper Real Estate Services Group Partner Lisa Knee asks HFZ Capital Group Chairman and Founder Ziel Feldman about what drives him in Part 7 of this series. Meir was a managing principal at HFZ until December. ), The project was recently embroiled in a mob scandal in which members of the Gambino crime family allegedly bought off an HFZ executive so they could skim hundreds of thousands of dollars from it and other Manhattan projects. He also allegedly forged documents in order to take ownership of a $45 million estate in Southampton that HFZ claims it owns.
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