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| The Nathanial Apartments, Greenwich Village Neighborhood, Manhattan, NY |
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| 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.
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| 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.
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| 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.
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| 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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