Manhattan, NY Holliday Fenoglio Fowler, L.P. (HFF) has secured $265 million in financing for the development of 160 Leroy St., a fully-entitled, 12-story, 49-unit condominium building overlooking the Hudson River in the West Village.
Working on behalf of Ian Schrager Co. in conjunction with Ares Management, Weinberg Properties and William Gottlieb Real Estate, HFF placed the construction loan with the Children’s Investment Fund Management (UK) LLP.
HFF’s debt placement team was led by Michael Tepedino, Eric Anton, Christopher Peck and Geoff Goldstein.
Designed by Pritzker Prize-winning architecture firm Herzog & De Meuron, the property will feature a glass exterior inspired by Brazilian architect Oscar Niemeyer. The 49 homes provide floor plans with views of The Freedom Tower, Hudson River, north to the George Washington Bridge and city views east.
160 Leroy Street - Manhattan, NYThe property will have an arched entry with private landscaped courtyard and garden, designed by Madison Cox, which leads into the lobby designed with curving, specially-imported glass walls and fluted mahogany panels Off the lobby will be a private 70-ft. swimming pool and whirlpool spa with floor-to-ceiling glass. Other amenities include a recreation lounge with kitchen for private events; kid’s clubhouse ideal for birthday parties; and gourmet take-out and delivery restaurant. The project’s below-grade space will feature a fitness center with yoga room; sauna; steam room with changing rooms; and private massage room.
The units include wide-plank Larch wood floors imported from Scandinavia; 11 to 13-ft. ceilings; floor-to-ceiling operable, triple-glazed and insulated windows sound rated to 40 decibels for 100% exterior noise reduction; custom designed bathrooms; blackened steel, double-sided, wood-burning fireplaces with floating hearths; and kitchens designed using Bulthaup’s products. The social kitchen blends into the living area and is complemented by a chef’s kitchen outfitted for everyday use with features including a Miele-integrated coffee/espresso machine, steam oven and wine refrigerator. Due for completion in 2017, the property will span the entire block of West Street between Leroy and Clarkson Streets in the West Village.
“Just as Ian Schrager redefined Bond Street, he is now transforming the West Village waterfront with this latest venture. The irreplaceable location will soon be home to an iconic project with detail and finish that will bring luxury living to a new level,” Anton said.
“It was a privilege to work alongside this partnership in procuring a capital solution best suited to bring this project to life,” Peck said.
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