The Real Deal New York

Ziel Feldman on the High Line, Billionaires’ Row and bucking trends: VIDEO

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May 21, 2015 09:00AM

In an interview during The Real Deal New Development Showcase & Forum, Ziel Feldman, founder and CEO of HFZ Capital Group, discussed his High Line megaproject, the concept of “affordable luxury” and the lack of opportunities on Billionaires’ Row.

Feldman told TRD Managing Web Editor Hiten Samtani that his cost of construction at the block-long site at 518 West 18th Street would be far less than that of projects of similar size. The project, which is being designed by Danish architect Bjarke Ingels, consists of two condominium buildings – which will rise 400 feet and 300 feet respectively — with significant retail space.

Feldman also spoke about the lack of sensible opportunities on Billionaires’ Row, where developers such as Vornado Realty Trust and Extell Development are pushing prices to record highs.

“Unless you own something there currently, there is no opportunity to purchase anything on that corridor,” he said.