HFZ Capital To Convert Tribeca Office To Luxury Condos

Law360, New York (August 6, 2012, 6:32 PM EDT) -- New York City hotel and condo developer HFZ Capital Group plans to convert an office building in Manhattan's Tribeca neighborhood to a luxury rental condominium, continuing a conversion trend that aims to remedy a stark lack of inventory in the city, the company said Monday.

HFZ bought the 10-story, 122,000-square-foot office building at 11 Beach St. for about $62 million in June, and has teamed up with Joy Construction Corp. and New Valley Real Estate Management Inc. to complete the conversion.

Located in a neighborhood with...
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