Sunday, April 9, 2017

HFF arranges $290 million financing for luxury mixed-use development in Manhattan’s Upper East Side

151 East 86th Street, Upper East Side, Manhattan, NY 
                                                                                               (Rendering by HOK Architects) 

David Nackoul

NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $290 million in financing for the development of 151 East 86th Street, a luxury mixed-use residential and retail project in Manhattan’s Upper East Side neighborhood.

HFF worked on behalf of the developer, a joint venture between Ceruzzi Holdings LLC (Ceruzzi) and Kuafu Properties (Kuafu), to secure the construction loan with a foreign capital source. HFF previously sourced financing on Ceruzzi’s behalf for its acquisition of the site in 2014.

151 East 86th Street is situated at the corner of 86th Street and Lexington Avenue. The project will include a combination of luxury residential totaling 151,500 square feet and two stories of ground-floor retail totaling 30,600 rentable square feet.

 Complementing the retail base will be 61 luxury condominium units averaging 2,485 square feet with top-of-the-line finishes and floor-to-ceiling windows offering sweeping views of the Manhattan skyline and the East River. 

Resident amenities will include concierge service and 6,500 square feet of amenity space, including a state-of-the-art fitness facility, lounge, rooftop terrace and children’s playroom.  Due for completion in first quarter 2019, the 18-story building has been designed by world-famous HOK Architects with interiors by the renowned design firm Shelton, Mindel & Associates.

Christopher Peck
HFF’s debt placement team was led by senior managing director David Nackoul, managing director Christopher Peck and associate Scott Findlay.

“The Upper East Side is a unique and sought-after area where the opportunity to develop from the ground-up rarely presents itself, especially on a prime corner such as 86th and Lexington,” said Peck.  

“Ceruzzi and Kuafu managed to create and execute on a very complex structure, and it was a privilege to help them capitalize on this vision with a single source of debt capital.”

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Specialist
HFF | 9 Greenway Plaza, Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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