HFZ Capital Pays $150M For NYC's Chatsworth Rental Building

Law360, New York (January 4, 2013, 7:44 PM EST) -- HFZ Capital Group has purchased the Chatsworth, a 12-story rental property on West 72nd Street in Manhattan, from Chatsworth Realty Corp. for $150 million, a representative for Eastern Consolidated, which brokered the deal, confirmed Friday.

HFZ, founded by developer Ziel Feldman, agreed to purchase the 139-unit residential building on the Upper West Side just before the new year, according to Melanie Keenan of Rubenstein Associates Inc., allowing the parties to complete the deal just under the wire before higher capital gains taxes kicked in.

The 1800s-era...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.