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| 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 | www.hfflp.com
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