Sales launch at HFZ Capital and Westbrook’s Belnord condo building

The developers are in the process of converting the massive rental building

TRD New York /
Jun.June 29, 2018 05:30 PM

A rendering of the Belnord

The first set of condominiums are up for grabs at the Belnord, with prices starting at $3.2 million.

HFZ Capital Group and Westbrook Partners put 11 apartments on the market on Friday, Curbed reported. The prices range from $3.2 million to $8.85 million, and the units range from two- to five-bedrooms.

The developers brought on Robert A.M. Stern Architects to convert the 215-unit Upper West Side rental building into luxury condos, the report said. Douglas Elliman is handling sales and marketing for the building.

A rendering of the Benord

The building spans the entire block between West 86th and 87th streets, Amsterdam Avenue and Broadway — and it includes an interior courtyard.

HFZ and Westbrook previously landed a $300 million refinancing from Wells Fargo for the conversion of the building at 2360 Broadway. Wells Fargo assumed the previous mortgage on the building from an LLC called Pamonssrd Neuf.

Renderings of the Belnord

HFZ purchased the complex from Extell Development in 2015 for $575 million. Westbrook bought a stake in March, converting its debt on the property into fresh equity.

The Belnord was completed in 1908. When HFZ took on the conversion, the company said it was aiming for a $1.35 billion sellout, among the highest-ever on the Upper West Side [Curbed]Meenal Vamburkar

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