Ashkenazy takes over HFZ’s office at 600 Madison

Developer's showstopping space housed an array of eclectic art, including a sculpture of a pig-human baby hybrid with actual human hair

New York /
Apr.April 29, 2021 08:08 PM
Ziel Feldman, Ben Ashkenazy and 600 Madison Avenue. (Getty, Ruben Companies)

Ziel Feldman, Ben Ashkenazy and 600 Madison Avenue. (Getty,
Ruben Companies)

From its swanky office at 600 Madison Avenue, HFZ Capital Group ran a New York development empire, orchestrating high-risk, high-reward ventures that included some of the city’s most prominent condominium projects.

With that empire now in disarray and HFZ mired in lawsuits and debts, the developer is now moving out of that office, The Real Deal has learned. And moving in is another big real estate player, Ashkenazy Acquisition.

Ashkenazy, led by Ben Ashkenazy, is supposed to move into the Ruben Companies-owned building tonight, according to a source familiar with the matter. HFZ’s space, which it has been in since the firm was founded by Ziel Feldman and Nir Meir in 2013, spans about 13,000 square feet on the 15th floor and a portion of the 16th floor.

The office also displayed Feldman’s eclectic art collection, including a sculpture of a pig-human baby hybrid with actual human hair and a sculpture of a rhinoceros suspended by a crane.


The 350,000-square-foot building at the corner of Madison Avenue and 58th Street is owned by the Ruben Companies and serves as its headquarters.

HFZ has been rocked by troubles over the past year, including foreclosures, liens and lawsuits from its contractors and investors, including at the XI, a spiraling condo and hotel project in West Chelsea. Feldman and his wife, Helene, are personally on the hook for a number of the loans tied to the projects.

The company has also suffered from C-suite infighting. Feldman alleged that his former partner Meir was using the firm as his “personal piggy bank” to the tune of $15 million in fraudulent credit card reimbursements and wire transfers. Meir, who left the firm in December for reasons that are unclear, has described those claims as meritless. He in turn has alleged that HFZ owes him over $25 million in payments related to development deals.

Ashkenazy’s holdings include the fee interest at 625 Madison Avenue, the retail condo at 841 Madison Avenue, and many other luxury retail properties across the country. The firm still lists its headquarters on its website at the penthouse of 150 East 58th Street. Forbes estimates Ben Ashkenazy’s net worth at $2.9 billion.

Daniel Levy, president of Ashkenazy, declined to comment. Ziel and Helene Feldman did not immediately return requests for comment.


Related Articles

arrow_forward_ios
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
Ben Ashkenazy (Corcoran)
Ashkenazy could lose another retail property to foreclosure
Ashkenazy could lose another retail property to foreclosure
Ben Ashkenazy dumps Midtown retail building at $6M loss
Ben Ashkenazy dumps Midtown retail building at $6M loss
Ben Ashkenazy dumps Midtown retail building at $6M loss
SL Green CEO Marc Holliday and Ashkenazy Aqcuisition’s Ben Ashkenazy and the property (Google Maps, SL Green)
SL Green snaps up Ashkenazy’s 690 Madison through foreclosure
SL Green snaps up Ashkenazy’s 690 Madison through foreclosure
Ranee Bartolacci, Nir Meir with the Sunset Islands home (Getty, Massa Construction Group)
Wife of embattled former HFZ principal alleges Miami Beach luxe rental was filled with rats, moldy bathrooms
Wife of embattled former HFZ principal alleges Miami Beach luxe rental was filled with rats, moldy bathrooms
Vanbarton Group’s Gary M. Tischler and Richard Coles with Marble Collegiate Church at 1 West 29th Street (Getty)
Vanbarton Group, church sued by foreign investors in fallout from HFZ debacle
Vanbarton Group, church sued by foreign investors in fallout from HFZ debacle
From left: Ranee Bartolacci, Nir Meir, the Sunset Islands mansion and Mathieu Massa  (Getty, Google Maps, Mr. Hospitality)
Trouble in paradise? Wife of former HFZ exec sued over alleged modifications to waterfront Miami Beach rental home
Trouble in paradise? Wife of former HFZ exec sued over alleged modifications to waterfront Miami Beach rental home
HFZ Capital CEO Ziel Feldman, The Platform CEO Peter Cummings, Fisher Building (Getty, Dick Haefner and The Platform)
HFZ, partners put historic Detroit building on the market
HFZ, partners put historic Detroit building on the market
arrow_forward_ios

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

Loading...