HFF arranges $32 million non-recourse financing for development of best-in-class boutique hotel at 225 Bowery in Bowery Neighborhood of Manhattan, NY

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.

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

ohennessey@hfflp.com