United States Hff Tender

Holliday Fenoglio Fowler L.P. HFF announces that it has arranged a 39.6 million construction loan for 76 8th Avenue a 10-story 34364-square-foot speculative boutique office building with ground floor retail on the prime corner of 8th Avenue and 14th Street at the edge of Manhattans Meatpacking District.Working on behalf of the borrower Noviprop LLC and co-developer Plus Development HFF placed the construction loan with G4 Capital Partners. Designed by Gene Kaufman with interiors by Raad Studio the project is scheduled for delivery in Summer 2020. 76 8th Avenue will feature ground floor retail nine floors of office space and a common roof deck for tenants. The modern design boutique nature and prime location is expected to drive leasing interest from tech and financial firms. The remarkable Meatpacking micro-market has garnered the attention of top tenants including Diane von Furstenberg Alibaba and Google which is located one block north of 76 8th Avenue. 76 8th Avenue has immediate access to public transportation with the 14th Street Subway station located directly in front of the property connecting it to Williamsburg Financial District and Midtown within minutes. The property is located near New Yorks top amenities such as The High Line Hudson River Park The Whitney Museum and Chelsea Market. 76 8th Avenue is situated at a five-way intersection at the edge of the Meatpacking District which is known for its chic and trendy roster of hotels restaurants and retail tenants including The Standard Hotel Bubbys Catch Tory Burch and Restoration Hardware.The HFF debt placement team representing the borrower was led by senior director Peter Rotchford managing directors Chris Peck and David Giancola and analyst Kristen Knapp. HFF was thrilled to play a role in the capitalization of 76 8th Avenue Rotchford said. Noviprop has owned the site since the early 1980s and we are excited to watch them contribute to one of Manhattans most popular boutique office markets.