The Real Deal New York

HFZ buys UWS rental building, the Chatsworth

January 04, 2013 09:30AM

Ziel Feldman’s HFZ Capital and partner BSG Real Estate have closed on the purchase of the Chatsworth, an Upper West Side rental building, for $150 million, the Wall Street Journal reported.

The pre-war building, at Riverside Drive and 72nd Street, sits in a prime location but holds an honor some investors find dubious: Many units are rent-controlled. But Feldman is upbeat, telling the Journal he hopes to restore the Beaux-Arts gem to its “original glory.”

Lipa Lieberman, David Schechtman, Peter Hauspurg and Azita Aghravi of Eastern Consolidated represented both sides in the transaction, the Journal said. [WSJ] –Guelda Voien