With his signature project slipping from his control, HFZ Capital Group's Ziel Feldman is slinging some mud. HFZ obtained its interest in the buildings in a partnership with Westchester, New York-based industrial investment firm Reich Brothers. In November, Feldman listed his penthouse at the Marquand condominium for $39 million. The source told TRD that the complaint contains additional allegations, and that James office had already been investigating HFZ prior to this complaint. Those efforts are ongoing.. With adedicated team of 10 investment professionals, the majority of whom have worked with Mr. Reiff for more than adecade and, collectively, have been responsible for completing more than $100 billion of commercial real estate transactions over the past two decades, Allegiant is positioned to be aleader in the real estate debt space due to its combination of vast lending and credit experience and the ability for HFZ to contribute its real estate operating expertise when evaluating opportunities throughout the capital stack. The developer has lost several projects to its lenders and is struggling to hold onto the XI development. Last downturn, it was HFZ that was swooping in to rescue troubled projects. And with construction stalled, its unclear when buyers will be able to move in. Investor Type Individual/Angel. Allegiant is acommercial real estate investment management company that originates, acquires and manages first mortgage loans, mezzanine loans, B-notes, preferred equity and CMBS securities. Recent projects range from the citys most prominent turn of the century landmarksThe Chatsworth and The Belnordto the future of urban architecture, The Eleventh and The Bryant. 5 free lookups per month. HFZs lender, Chicago-based Monroe Capital, took control of HFZs stake in the portfolio, which spans more than 10 million square feet nationwide. (, We had a little tiny office with no heat and Home Depot card tables for desks,, HFZ had purchased the four-building parcel, totaling nearly 750 rental units, from Westbrook Partners in 2013 for $610 million. HFZ must pay $136M to lender of floundering XI project - Crain's New Ziel Feldman's HFZ Capital Sues Nir Meir For Embezzlement The firm has approximately 15 million square feet under ownership and . Abrahami wants the court to enforce a so-called good guy guarantee, signed in September 2020 by Feldman and Meir, making them personally liable for the loan. Zie l received a Bachelor's Degree degree from University of Oxford Queens College and a Law degree from Cardozo Law School. The lawsuit alleges that Nir illegally charged personal expenditures to HFZ, including $10,000 weekly sushi dinner parties, millions of dollars worth of wine, five different Mercedes (including an AMG model), a Cadillac Escalade, two Porsche 911s and an Aston Martin. Childrens declined to comment. Investor Stage Seed. Ziel Feldman, the founder and chairman of HFZ Capital Group, signed a contract Wednesday to buy the 76,425-square-foot site. Get contact details including emails and phone numbers HFZ brings its operational resources as well as its relationships and expertise in the capital markets in order to grow together with its partner companies. Feldman spent more of his time on high-level talks and deals and was removed from the nitty-gritty aspects of development. Developer to Pay Over $800 Million for Site Near High Line It was the one of the largest debt packages of the cycle. An HFZ project is never just astructure. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Former Westchester home of KKR co-founder list for $11M, HFZ loses control of 4 Manhattan condo projects, HFZ's Ziel Feldman takes reins, partner Nir Meir is out: sources. During that time, he also allegedly asked for credit card reimbursements totalling more than $11 million. With allegations of intermingling of funds, HFZ might be reluctant to declare bankruptcy. HFZ pledged the equity interest in those buildings located in New York, Tennessee and Wisconsin to both Abrahami and Chicago-based Monroe Capital, according to the complaint. By Emma Whitford. Ziel Feldman's beleaguered development firm HFZ Capital Group has accused its former executive being a "faithless servant" by looting the company's coffers, according to three ;lawsuits filed . Ziel Feldman, Founder, HFZ Capital Groupon his Chelsea megaproject, why the EB-5 visa program won't die and more.--Check out The Real Deal for more: https://. Abrahami is asking the court to make Feldman and Meir personally pay back the loan and accrued interest a total of $33.6 million in accordance with the original agreement. CARES Act Summary. Please call me., The texts are now evidence in a legal battle as HFZ the prolific developer Meir launched 15 years ago with co-founder and chair Ziel Feldman fights CIMs efforts to foreclose on the debt. Ziel Feldman Owner. Complaint alleges Ziel Feldman offered condo units to investors in projects before filing offering plans, Attorney General Tish James and HFZ Capital Groups Ziel Feldman (Getty). Please call me. HFZ Capital Group Chairman and Founder Ziel Feldman sat down with EisnerAmper Real Estate Services Group Partner Lisa Knee to discuss the origins of HFZ, one of the most prolific condominium developers in New York City. Allegiant offers borrowers a one-stop solution with the ability to offer customized commercial real estate debt investment strategies across the entire yield and risk spectrum. By Vivian Marino. A source close to Meir, who. The expert could not determine whether Feldmans signatures were forged. An entity tied to Monroe sued in December, alleging it held title to the property but Meir was blocking it from taking possession. Principal at HFZ Capital Group New York, New York, United . . Regions Greater New York Area, East Coast, Northeastern US. HFZ Capital and the Ugliest Divorce in Manhattan Real Estate - Curbed Ziel Feldman is the Chairman and Founder of HFZ Capital Group, a Manhattan-based real estate investment and development company formed in 2005. Ziel Feldman puts his own UES pad on the market. The complaint names Feldman and his former partner Nir Mier, along with HFZ lenders JPMorgan Chase and CIM Group, according to the source. (Gary Barnett, an ex-diamond trader, joined a few years later.). Its just unfortunate that [Feldman] got caught in this perfect storm of the pandemic and being very long on condominium development., I wouldnt bet against Ziel, Schrager added. In October, Feldman sold his 22-room, chateau-style mansion in Englewood, New Jersey, after nine years on the market. Rounding out its vertically integrated platform, the sales and marketing division continues to grow with the portfolio. In March, CIM Group alleged that HFZ still owed it $48 million after the lender took control of four Manhattan condo conversion projects.

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