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| 151 East 86th Street, Upper East Side, Manhattan, NY |
(Rendering by HOK Architects)
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| 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.
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| 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 | www.hfflp.com
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