Sunday, April 30, 2017

HFF arranges joint venture for luxury condominium development in Lower Manhattan

Eric Anton
NEW YORK, NY –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a joint venture for the development of 69 West Broadway, a ground-up luxury condominium project in Lower Manhattan’s trendy Tribeca neighborhood.

HFF worked on behalf of the developer, Cape Advisors, Inc. and Forum Absolute Equity Partners, a private equity fund based in New York, to arrange the investment with a European fund, which contributed in excess of $21 million toward the total project cost of approximately $120 million.

69 West Broadway will occupy the block between Warren and Murray Streets at West Broadway in Tribeca.  This location, convenient to the 1, 2, 3, A and C Chambers Street metro stations as well as the newly completed, Santiago Calatrava-designed World Trade Center Transportation Hub, is being designed by BKSK Architects. The eight-story building will have 24 luxury units situated above ground-floor retail. 

HFF’s equity placement team was led by senior managing director Eric Anton.

“It is always a pleasure to work with the creative team at Cape Advisors, and I am happy that HFF was able to aid in the funding of their latest endeavor,” Anton said.  “Given the current challenges in securing capital for condominium development, this deal is a testament to the quality of the location, development team and long-term strength of New York City’s residential market.”

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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