HFZ Bags $1B Loan for Mammoth NYC Project
ByDesigned 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.
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 article in The Real Deal identified the lender as the U.K.’s Children’s Investment Fund, and put the loan amount at $1.25 billion.
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 137-room Six Senses New York hotel and additional residences. The development will also feature 90,000 square feet of retail space and below-grade parking…
HFZ Bags $1B Loan for Mammoth NYC Project
