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HFZ High Line Project Gets Financing

NEW YORK CITY—Equity came from foreign investors as well as local ones for this “huge project” that features 750 units, Howard Michaels of the Carlton Group—which represented HFZ in the transaction—tells GlobeSt.com.

By Rayna Katz | Updated on May 08, 2015

NEW YORK CITY—GlobeSt.com has confirmed published reports that Ziel Feldman‘s HFZ Capital Group has secured $1 billion in financing for an $870-million High Line development site, allowing the firm to close on the project, located at 518 W. 18th St.

The financing was provided by “a consortium that included Blackrock and SL Green,” Howard Michaels, chairman, the Carlton Group—which represented HFZ in the transaction—tells GlobeSt.com. “There was foreign interest as well, with some overseas buyers invested in institutational funds joining the consortium on this project.”

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