HFF closes $98.25 million sale of and arranges financing for The Nathaniel

HFF has arranged the sale of and financing for the $98.25 million acquisition of The Nathaniel, an 85-unit multi-housing building with ground floor retail in Greenwich Village neighborhood. HFF represented the sale on behalf of the seller, YYY Third Ave., LLC, a joint venture affiliate of Joy Construction Corp. Wafra Residential Value Invest I, L.P., a fund managed by Wafra Investment Advisory Group, Inc., purchased the asset. The financing was secured through a large banking and financial service institution. The HFF investment sales team representing the seller was led by senior managing directors Andrew Scandalios, Eric Anton and Jose Cruz, managing director Jeffrey Julien and director Rob Hinckley. The HFF debt placement team representing the borrower was led by managing director Steven Klein and director Jennifer Keller. Completed in 2014, The Nathaniel is located at 138 East 12th St. between 3rd and 4th Aves. in Greenwich Village. The building is two and a half blocks from the 14th St.-Union Sq. subway station serving the 4,5,6, N, Q, R and L lines. Additionally, Washington Sq. Park, Union Sq, Park and Tompkins Sq. Park are less than half a mile away, and the building is walking distance to NYU, Cooper Union and The New School. The 49,741 s/f building has 10,000 s/f of ground-floor retail space and 8,000 s/f of below-grade retail space leased to Westside Market NYC. Designed by Karl Fischer Architect, the nine-story residential building features floor-to-ceiling windows, a 24-hour doorman, resident lounge with a TV/media center and billiards, rooftop reflecting pool, sunset terrace, private fitness center and bike storage. Joy Construction Corp. is a full service general contracting and development firm primarily focused on multifamily and commercial projects throughout New York City. Joy was formed in 1995 and has built and/or developed more than 70 buildings in New York, including approximately 7,000 multifamily units. For more information, visit www.joycon1st.com. Wafra Investment Advisory Group, Inc. is a global investment management firm based in New York City. The Wafra Group of companies has approximately $17 billion of assets and commitments under management. Wafra is beneficially owned by the Public Institution for Social Security of the State of Kuwait. The investment activities of Wafra encompass a broad range including private equity and debt, public equity and debt, real estate and real assets. Wafra Residential Value Invest I, L.P. targets institutional investors from Germany and invests in high quality multi-family assets in the US. HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visithfflp.com or follow HFF on Twitter @HFF.