The Real Deal New York

HFZ Capital’s 11 Beach Street in Tribeca is 50% sold

Penthouse asking $22.5M hits market
By E.B. Solomont | February 11, 2015 12:16PM

Five months after launching sales, 50 percent of HFZ Capital Group’s 11 Beach Street in Tribeca is in contract.

The building’s largest penthouse also hit the market today with an asking price of $22.5 million. Penthouse B measures nearly 6,000 square feet with nearly 2,000 square feet of outdoor space spread over two terraces.

Ziel Feldman’s HFZ acquired 11 Beach Street for $62.1 million in 2012. In all, the building will have 27 loft units, including three townhouses, and the condos already in contract range from $5.2 million to $10 million.

Douglas Elliman’s Fredrik Eklund, John Gomes, Melanie Lazenby and Dina Lewis, are marketing the building. BKSK served as the architect, while Thomas Juul-Hansen is handling interior design. Sales launched in mid-September. The average unit size is 3,000 square feet, while the average kitchen is about 250 square feet.

“It’s been a pleasure to show the sales gallery to buyers and brokers alike,” Eklund said. “They’re looking at me, saying ‘Is this a show kitchen?’ and I’m like, ‘No, this is the actual kitchen.’”