HFZ files to raze storied Bancroft Building in NoMad

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

TRD 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
131-01 39th Avenue in Flushing (Credit: Google Maps)

Another megaproject coming to Flushing

Lead was found at four properties in Manhattan, three of which have since resolved the violations. (Credit: Getty Images)

City doing surprise lead inspections on older buildings

From left: 295 Fifth Avenue, 3 World Trade Center, 50 Rockefeller Plaza (Credit: Google Maps, Wikipedia)

These were NYC’s top office leases in October

Clockwise from left: 31 West 27th Street, 1271 Sixth Avenue, 781 Metropolitan Avenue (Credit: StreetEasy and Google Maps)

New Equinox tops list of NYC retail leases in October

From left: Jared Epstein, Barry Sternlicht, Bobby Cayre and Ziel Feldman

Power lunch: Barry Sternlicht, Ziel Feldman and Aurora execs talk shop at Pastis

From left: Jared Epstein, Barry Sternlicht, Bobby Cayre and Ziel Feldman

Power lunch: Barry Sternlicht, Ziel Feldman and Aurora execs talk shop at Pastis

311 East 50th Street (Credit: Google Maps)

City moves to revoke license of contractor it blames for construction worker’s death

880 St. Nicholas Avenue (Credit: Google Maps)

Pair of NYC construction honchos to lose licenses over worker death

arrow_forward_ios