Tuesday, February 24, 2015

HFF closes $98.25 million sale of and arranges financing for The Nathaniel luxury Greenwich Village residences in Manhattan, NY


The Nathanial Apartments, Greenwich Village Neighborhood, Manhattan, NY

Jennifer L. Keller
NEW YORK, NY – HFF announced today that it has arranged the sale of and financing for the $98.25 million acquisition of The Nathaniel, an 85-unit, luxury, boutique multi-housing building with ground floor retail in the heart of Manhattan’s Greenwich Village neighborhood. 

HFF represented the sale on behalf of the seller, YYY Third Avenue, LLC, a joint venture affiliate of Joy Construction Corporation.  Wafra Residential Value Invest I, L.P., a fund managed by Wafra Investment Advisory Group, Inc., purchased the asset.  

The financing was secured through a large banking and financial service institution.

Completed in 2014, The Nathaniel is located at 138 East 12th Street between 3rd and 4th Avenues in Greenwich Village, a Manhattan neighborhood bordering the East Village, Union Square, NoHo and Gramercy Park. 




Andrew Scandalios
The building is two and a half blocks from the 14th Street-Union Square subway station serving the 4,5,6, N, Q, R and L lines. 

Additionally, Washington Square Park, Union Square Park and Tompkins Square Park are less than half a mile away, and the building is walking distance to NYU, Cooper Union and The New School. 

The 49,741-square-foot building has 10,000 square feet of ground-floor retail space and 8,000 square feet of below-grade retail space leased to Westside Market NYC. 

  Designed by Karl Fischer Architect, the nine-story residential building features floor-to-ceiling windows, a 24-hour doorman, resident lounge with a TV/media center and billiards, rooftop reflecting pool, sunset terrace, private fitness center and bike storage.   

The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios, Eric Anton and Jose Cruz, managing director Jeffrey Julien and director Rob Hinckley.


Eric Anton
                The HFF debt placement team representing the borrower was led by managing director Steven Klein and director Jennifer Keller.

Joy Construction Corporation is a full service general contracting and development firm primarily focused on multifamily and commercial projects throughout New York City. 

  Joy was formed in 1995 and has built and/or developed more than 70 buildings in New York, including approximately 7,000 multifamily units.  For more information, visit www.joycon1st.com.

Wafra Investment Advisory Group, Inc. is a global investment management firm based in New York City.  The Wafra Group of companies has approximately $17 billion of assets and commitments under management. 

  Wafra is beneficially owned by the Public Institution for Social Security of the State of Kuwait.  

The investment activities of Wafra encompass a broad range including private equity and debt, public equity and debt, real estate and real assets. 


Jose Cruz
  Wafra Residential Value Invest I, L.P. targets institutional investors from Germany and invests in high quality multi-family assets in the US. 
  


 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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