HFF Announces $83M for Development Site in NYC

Fri October 13, 2017 - Northeast Edition #21
Construction Equipment Guide

12th West 55th Street
12th West 55th Street

Holliday Fenoglio Fowler L.P. (HFF) announced the $83 million sale and acquisition financing of 12-18 West 55th Street, an 8,000-sq.-ft. development site located adjacent to the University Club and Peninsula Hotel in Manhattan's Plaza District.

The HFF team marketed the property on behalf of the seller, a partnership between Barings and Lincoln Property Company, and procured the buyer, Skyline Developers, the New York affiliate of Garden Homes Development. Additionally, HFF worked on behalf of the new owner to secure acquisition financing.

Located in the famed Plaza District of Manhattan, the site sits less than 200 ft. west of the famed Fifth Avenue retail corridor and is convenient to many of the city's most acclaimed cultural institutions, including the Museum of Modern Art, the Broadway Theater District, Lincoln Center and Central Park. Additionally, the development has exceptional transit access with nearly all of the New York City subway lines located within a half mile of the property.

The HFF team included senior managing director Andrew Scandalios, managing director David Giancola and senior director Geoff Goldstein.

About HFF

HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

For more information, visit hfflp.com.

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