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| Jay Marshall |
NEW YORK, NY - HFF announced it has arranged $32 million in
non-recourse financing for the development of a 200-key, best-in-class, boutique
hotel in Manhattan’s Bowery neighborhood, which will be operated by a top-tier
brand name operator.
HFF worked on behalf of the borrower, a joint venture
between Omnia Group and Northwind Group, to secure the loan through a global
asset management company.
The site is located at 223-225 Bowery, south of
Houston between Prince and Spring Streets.
Due for completion in 2015/2016, the hotel will include an expansive
rooftop amenity space along with restaurant and music space with entrances from
both Bowery and Freeman Alley.
The HFF team representing the borrower was led by senior
managing director Jay Marshall, associate director Christopher Peck
and real estate analyst Sam Nidenberg
“It is a privilege to have played a role in a truly
transformative development that will positively change the landscape of the
Bowery neighborhood,” Marshall said.
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| Christopher Peck |
Omnia Group was founded in 1998 by David Paz, to
acquire, develop and reposition value add real estate projects in the Manhattan
market.
Omnia’s team has more than 60
years of combined experience in New York City real estate.
Their capabilities span all facets of the
real estate investment life cycle including deal sourcing and structuring, due
diligence, finance, development, construction, management, leasing and
dispositions.
Since inception, Omnia has completed more than 19 projects
representing 413,000 square feet of residential units with a combined asset
value of nearly $250 million.
Northwind Group was founded in 2009 by Ran Eliasaf, as a boutique
real estate asset management and development platform. It is based in Manhattan and focuses on
value-added residential and commercial projects. Northwind Group invests on its own balance sheet and in joint
venture with a selected number of partners.
Learn more at www.northwind-group.com.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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