HFZ Capital Group, a leading Manhattan-based real estate development and investment company, announced that construction on The Astor – a 72-unit condominium tower located at 235 West 75th Street – is nearing completion. Originally conceived as rental apartments on the Upper West Side, HFZ commissioned interior designer firm Pembrooke & Ives to re-envision the three legacy buildings on a full city block as a luxury condominium residence.
Given the property’s storied history, and its location within The West End Collegiate Historic District, the challenge was to provide a substantial modernization and overhaul of the existing buildings while using a minimal and deft touch.
“There is no formula to transforming these type of historic properties, we always approach each project with a fresh pair of eyes, while also applying lessons learned from previous experiences,” said John Simonlacaj, the Managing Director of Development at HFZ Capital Group.
In addition to the unique three-tower configuration, The Astor features original detailing both on the exterior and interior that will undergo meticulous restoration. Around the historic fabric of the buildings, HFZ has upgraded the building infrastructure, mechanical, electrical, plumbing, AV, telecommunications and security. The newly renovated units have received all-new high-end finishes and custom millwork and fixtures, and are reconfigured to recall The Astor’s elegant and sophisticated past. Completely new amenities at the property include a fitness center, children’s playroom, bike storage, laundry room and storage units for tenants – will also be added to the common spaces.
“To be able to do so much and be able to accommodate such a robust program into a landmarked building like The Astor was no small undertaking,” Mr. Simonlacaj stated. “It required the tremendous effort of collaboration between every member of the design and development team.”
HFZ Capital Group is a Manhattan-based real estate investment and development firm with expertise in a broad range of real estate disciplines including underwriting analytics, structured finance, investment, development, construction and asset management. HFZ capitalizes on development and investment opportunities both in the U.S. and abroad and has acquired, owned, developed and operated properties across many asset classes, including residential, office, hotel, retail, sports and entertainment. Today HFZ is managing and developing real estate with a total value in excess of $10 billion, spanning approximately 10 million square feet including nearly 2,000 new residential units being brought to market.