March 9th 2022
CityRealty
There was a time when HFZ Capital Group was one of New York’s most active luxury developers, but the principals are now spending much of their time contending with foreclosures (like that of The XI), investor disputes, and conflicts between upper management. Chairman Ziel Feldman has accused his firm’s former managing principal Nir Meir of stealing from the company and making deals without his knowledge. However, a New York appellate court ruled that Mr. Feldman was in fact aware of certain transactions; The Real Deal notes that this is a blow to Mr. Feldman’s argument that Mr. Meir was solely responsible for HFZ Capital Group’s downfall.