HFZ Capital Group
| Company type | Private |
|---|---|
| Industry | Real estate investment and development |
| Founded | 2005 |
| Founder | Ziel Feldman |
| Headquarters | New York City , United States |
Key people | Ziel Feldman (Chairman) |
| Products | Real estate developments, condominiums, mixed-use developments |
HFZ Capital Group is a real estate investment and development company headquartered in New York City, established in 2005 by chairman Ziel Feldman. By 2019, HFZ had overseen developments valued at more than $10 billion.
History
Prior to launching HFZ, Ziel Feldman co-founded Property Markets Group (PMG) in 1991 and gained experience working with Extell Development Company. In 2013, HFZ collaborated with Fortress Investment Group to acquire four rental properties in Manhattan, including The Astor, from Westbrook Partners for upwards of $610 million, subsequently converting these buildings into condominiums.
In 2015, HFZ acquired The Belnord, a pre-war property on Manhattan’s Upper West Side, from Extell for around $575 million. The firm engaged architect Robert A. M. Stern to oversee its renovation and condominium conversion.
That same year, HFZ secured a full-block site in Chelsea from Edison Properties for $870 million, initiating The XI project—a mixed-use development composed of two towers designed by Bjarke Ingels. This project includes 236 condominiums alongside the inaugural U.S. hotel by Six Senses.
By 2021, The XI faced foreclosure prior to completion and ultimately opened under new ownership. Additionally, HFZ lost possession of four Manhattan condominiums amid numerous investor lawsuits and foreclosure actions. In February 2024, a former executive associated with HFZ was apprehended on criminal allegations.