HFZ MOVES AHEAD WITH PLANS TO CONVERT NYC OFFICE BUILDING

NEW YORK CITY — HFZ Capital Group is moving forward with plans to convert a 122,000-square-foot office building at 11 Beach St. in New York City into a luxury condominium. The company has partnered with Joy Construction and New Valley on the redevelopment. HFZ acquired the property in July for a reported $62 million. HFZ has started pre-development planning for the proposed project.