Clockwise from top left: Nir Meir, Ziel Feldman and Ilan Rubenstein of
HFZ Capital Group; Ziel Feldman and Wendy Maitland and Reid Price of
Town Residential; Ziel Feldman and Elie Pariente, principal at Synergy New York
and Stuart Sussman of Core and William Bish of Corcoran Sunshine
Marketing

HFZ Capital Group head Ziel Feldman held a party on the rooftop of the Setai Wall Street last night, along with Elie Pariente principal at the building’s marketing firm Synergy New York, to celebrate its recent return to the market (see photos above). The Zamir Equities-developed project at 40 Broad Street in the Financial District was converted to a 159-unit condominium in 2009, but Zamir defaulted on the $147 million loan attached to the building in 2010. Attorney General Eric Schneiderman halted closings to investigate the financing situation and the building was taken off the market.

The financial trouble was preceded by construction turmoil that caused some initial buyers to back out of their contracts, and a lawsuit by the Setai Group brand alleging “substandard quality.” – Adam Fusfeld 1 Comment

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After taking a hiatus late last year, sales at the Setai Wall Street condominium are resuming with a 16 percent price cut and a new marketing team, Synergy New York. Crain’s reported the 159-unit condo conversion is about 60 percent sold, but the developer, Zamir Equities, agreed to lower the price to $750,000 for one-bedrooms, $930,000 for two-bedrooms and $1.2 million for penthouses “to match today’s prices.”

Setai Wall Street was at the center of financial problems last year, as Zamir defaulted on its $147 million loan, and the lender, Irish Anglo Bank, sold it to HFZ Capital Group and Acro Group for $80 million earlier this year. [more]

Rodrigo Nino of Prodigy International and the William Beaver House

William Beaver House, the André Balazs-designed Financial District condominium that was just bailed out by the Los Angeles-based CIM Group, is going partially rental under its new ownership.

The 333-unit tower, which had been facing a foreclosure lawsuit prior to the takeover, was part of a three-piece deal in which CIM agreed to buy the debt on two troubled Sapir Organization buildings (Trump Soho and Beaver House) and take an equity stake in another (11 Madison Avenue), sources said. As the Wall Street Journal reported earlier today, CIM purchased the loan on over 200 unsold condos at the Beaver House and subsequently took ownership through a deed-in-lieu of foreclosure.
[more]

Elie Pariente said he has seen a number of AIG execs relocating to 15 Broad Street

Brokers who work in the Financial District say they are seeing an increase in the number of financial services executives posted abroad who are relocating back to New York, and specifically to newer developments in the Financial District. Elie Pariente, managing partner at Urban Sanctuary, said he has done four deals in the past 45 days with AIG executives returning to the U.S. from Tokyo and Singapore, to work for Chartis Insurance, an AIG spin-off. Three of the apartments that Pariente, who said he has a history of deals with AIG employees, sold were in 15 Broad Street. All four were two-bedroom apartments, which Pariente called “standard” for financial services executives. The apartments ranged in size from 1,200 to 1,600 square feet and in price from $1.1 million to $1.5 million. [more]