Scandalios, Klein, Goldstein and Shepard of HFF arrange $86 million financing for The Lewis

April 17, 2018 - Financial Digest
Andrew Scandalios, HFF

 

Steven Klein, HFF

 

Geoff Goldstein, HFF

 

Manhattan, NY Holliday Fenoglio Fowler, L.P. (HFF) has completed $86 million in financing for The Lewis, a newly completed, 186-unit apartment building in the Hudson Yards neighborhood.

The HFF team worked on behalf of the sponsor, West 35th SBXLVI, a joint venture entity between Joy Construction, Maddd Equities and the family of the late Lewis Katz, to place the floating-rate acquisition loan with KKR Real Estate Finance Trust Inc. (KREF). Loan proceeds were used to refinance the construction loan.

The Lewis, 411 W. 35th Street - Manhattan, NY

The Lewis is located at 411 W. 35th St. at the convergence of three of the borough’s most vibrant neighborhoods – Hudson Yards, Chelsea and Hell’s Kitchen. Completed this year, the property comprises a variety of studio, one and two-bedroom floor plans averaging 667 s/f. Each residence features stylish finishes and modern amenities, such as custom Italian cabinetry, black Caesarstone countertops, glass-enclosed showers, soaking tubs, wide plank oak hardwood flooring, high ceilings, in-unit washers and dryers, ample closet space, soundproof double pane windows with solar shades and private terraces in select units.  The Lewis also features concierge service, a grand lobby, fitness center, resident lounge, ground-floor landscaped terrace and a rooftop terrace complete with sunbeds, seating and dining area with grills. The project was named in memory and in honor of Lewis Katz, a well-known and much-loved businessman and philanthropist.

The HFF team included senior managing director Andrew Scandalios, managing director Steven Klein, senior director Geoff Goldstein and director Rory Shepard.

“We are really pleased to have executed this financing facility with KREF,” said Eli Weiss, principal of West 35th SBXLVI LLC.  “The Lewis is a first-class boutique building in the most exciting new neighborhood in New York – Hudson Yards. The product speaks to our longstanding commitment and track record of developing high-quality, sensibly priced multifamily assets, and we hope it serves as a tribute to the late Lewis Katz, our friend and partner.  We were very fortunate to have Lewis’ son, Drew Katz, as a part of our development partnership that worked tirelessly to develop a product worthy of its namesake.”

Tags:

Comments

Add Comment


More from the New York Real Estate Journal