HFZ files to raze storied Bancroft Building in NoMad

Part of three-property demolition that would give rise to mixed-use tower

New York /
Feb.February 17, 2014 01:20 PM

Developer Ziel Feldman’s HFZ Capital filed permits last week to tear down the first of three buildings in NoMad to make way for a proposed 350,000-square-foot mixed-use tower, according to Department of Buildings records.

The Bancroft Building is a 10-story, 61,230-square-foot office building at 3-7 West 29th Street, Between Broadway And Fifth Avenue, with nine units. Founded in 1896, it notably housed photographer Alfred Stieglitz’s Camera Club of New York, which is now located at 336 West 37th Street.

The Collegiate Reformed Protestant Dutch Church sold the building in October for $26.2 million, along with two other properties, to HFZ. Those sites — a four-story mixed-use building at 11 West 29th Street and a 12-story, 108,750-square-foot commercial property at 8-14 West 30th Street – changed hands for $8.8 million and $35.1 million, respectively, property records show.

Records show that on the same date as the sales, HFZ acquired a $15 million loan from Banco Inbursa, a Mexican-based bank. Tenants at the Bancroft Building include post-graduate psychiatric school the Blanton-Peale Institute and Counseling Center.

HFZ and Collegiate Asset Management, the real estate arm of Collegiate Church, entered talks to form a joint partnership about a year ago, as The Real Deal reported. The developers were looking at a number of possible plans, including constructing a hotel or residential units, a source said. The site has been in play at least as far back as 2006, when the church began acquiring the buildings.

Feldman declined to comment on the project or when the demolition is slated to occur. Collegiate could not be immediately reached.


Related Articles

arrow_forward_ios
DOB NOW (NYC DOB, Getty)
Buildings Department audits plunge as agency closes loophole
Buildings Department audits plunge as agency closes loophole
SpringHealth CEO April Koh, 60 Madison Avenue and Moinian Group’s Joseph Moinian (SpringHealth, VTS, Moinian)
Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue
Youngest female unicorn CEO moves startup to Moinian’s 60 Madison Avenue
The New Kings of New York, Steve Ross, Gary Barnett, Ziel Feldman, Kent Swig, Dan Doctoroff
“What happened to Ziel Feldman reminds me of what happened to Kent Swig:” An interview with the author of “The New Kings of New York”
“What happened to Ziel Feldman reminds me of what happened to Kent Swig:” An interview with the author of “The New Kings of New York”
25 West 28th Street, No Mad, Hotels
NoMad hotel market set for 25% property boost
NoMad hotel market set for 25% property boost
Eric Ulrich and Kazimir Vilenchik (Twitter via Eric Ulrich, LinkedIn)
Mayor taps Republican ex-Council member as buildings chief
Mayor taps Republican ex-Council member as buildings chief
Steve Witkoff of Witkoff Group, Len Blavatnik of Access Industries and the XI (Getty Images, The XI)
Witkoff, Blavatnik set to resume XI condo project with new contractor
Witkoff, Blavatnik set to resume XI condo project with new contractor
(iStock/Photo Illustration by Steven Dilakian for The Real Deal)
NYC construction deaths ticked up in 2021, but incidents notched 3-year decline
NYC construction deaths ticked up in 2021, but incidents notched 3-year decline
Clockwise from top left: 277 Fifth Avenue, 60 North 6th Street in Brooklyn, 127 Kent Avenue in Brooklyn and 515 West 38th Street (The LX Collection, L3 Capital, Google Maps)
Tile maker’s deal in NoMad leads mid-market sales
Tile maker’s deal in NoMad leads mid-market sales
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...