SOURCE: HFZ Capital Group

April 23, 2013 13:59 ET

HFZ Capital Group Re-Envisions Historic Property at 11 East 68th Street

Shelton Mindel & Associates Leads Stunning Transformation; Douglas Elliman Development Marketing Heads Sales & Marketing

NEW YORK, NY--(Marketwired - Apr 23, 2013) - The Marquand at 11 East 68th Street has been one of New York City's most distinguished residential addresses since before the turn of the century. It evolved from the original site of a private mansion for Henry P. Marquand, one of the founders of the Metropolitan Museum of Art, into a stylish 14-story residence built exactly 100 years ago by Herbert Lucas, one of the most prominent architects of the time.

When HFZ Capital Group acquired 11 East 68th Street (http://www.11east68th.com), the company orchestrated a complete refurbishing of the exterior stonework and commissioned Shelton Mindel & Associates, the renowned New York based architectural and interior design firm, to design the interiors, create new floor plans, and renovate and redesign the lobby, elevator vestibules and main entranceway to the building. Partner Lee Mindel embraced the building's heritage while dramatically redesigning the spaces into luxurious modern homes.

Sales have launched at 11 East 68th Street where four- to six-bedroom residences range in size from 3,795 sq. ft. - 4,654 sq. ft., along with two penthouses -- each over 6,000 sq. ft. Prices start at $15 million. Douglas Elliman Development Marketing is the exclusive sales and marketing agency.

HFZ Principal & Managing Director Nir Meir said, "As a development company, we've always been passionate about acquiring and restoring properties with a rich architectural history. Once modernized, the elegant proportions and richly detailed interiors of these buildings offer buyers a much more gracious and luxurious experience."

According to architectural historians, 11 East 68th Street was originally developed during a time of great change in the city -- multi-family residences were becoming fashionable and Lucas, along with fellow architects Rosario Candela and J.E.R. Carpenter, were transforming single family mansions into hi-rise luxury homes.

"Grand entertaining spaces and generously proportioned rooms are the defining characteristics of the mansions of the time. These elements were then translated into the new multi-family scheme and both remain signatures of 11 East 68th Street," said Lee Mindel. "We celebrated the soul of the residence by enhancing the largest dimensions and creating a grand succession of different experiences -- the enfilade that draws you through the intimate lobby and into the elevator culminates in residences with gorgeous open spaces filled with natural light and clarity from the grand expanse of windows along the Avenue."

While taking his cues from the great architects of the period, Mindel created new master plans in keeping with today's lifestyle. The gracious interiors are meticulously finished in four-inch plank natural oak flooring in a custom parquetry pattern, and oak paneled walls and coffered ceilings are featured in many rooms. Grand living spaces are bathed in light from the large bay windows and most residences boast real wood-burning fireplaces sculpted in Travertine marble.

Just as the great residential architects of the last century employed the finest materials and craftsmanship, 11 East 68th Street has been recreated by Mindel with white onyx and mosaic-tiled bathrooms and his and her dressing rooms accessed through meticulously detailed bedrooms.

The large eat-in kitchens have been impeccably detailed with beige Celador stone flooring, Calacatta Fine Vein marble counters and walls, and custom white lacquered Bulthaup cabinetry. Residents will enjoy the very best appliances including Sub-Zero refrigerators and freezers concealed in custom Bulthaup aluminum finished panels, Miele dishwashers, Wolf cooking ranges with vented hoods, Gaggenau double wall ovens with warming drawers, two dishwashers, and a wine cooler.

"There is a consistency of thought in this transformation," according to Mindel. "From the piano nobile of the Renaissance style façade, to the limestone and Belgian block courtyard, past an allée of boxwoods, under a glass canopy designed by Matthew Nielsen reminiscent of a Paris Metro, into the oak paneled lobby with an alabaster and bronze reception desk where custom designed sofas and chairs embroidered with the Marquand crest are strategically placed on a carpet patterned after the bronze grillwork on the original windows and doors -- there is a level of extraordinary detail that takes full advantage of the luxury experience and makes 11 East 68th Street a unique and amazing place to live today."

Residents will also enjoy a range of excellent amenities including a Fitness & Strength Center with on-site personal training, Kids Lounge, white glove Doorman and Concierge Service, Storage Rooms and a live-in resident manager. Separate service entrances and private elevator landings are found in most residences.

"Lee Mindel's passion and purity in his work is unwavering and masterful. He brings a fresh modern approach while respecting the elements that are inherent in this unique prewar building," said Susan M. de França, President and Chief Executive Officer of Douglas Elliman Development Marketing. "These residences will be highly sought after by discerning individuals who will have the best of both worlds."

HFZ Founder and Managing Principal Ziel Feldman concluded, "We purchased this property knowing that it symbolized a great era in residential development, and that its centennial is a testament to the finest architecture of the day. We fully intended to shape the building's magnificent future with the highest level of craftsmanship and the best design talent available in the market today."

For more information on the residences at 11 East 68th Street please visit http://www.11east68th.com or call 212.686.0060.

About HFZ Capital Group:
HFZ Capital Group is a Manhattan-based real estate investment and development company founded by Ziel Feldman. With an expertise in a broad range of real estate disciplines including underwriting, analytics, structured finance, investment, development, construction and asset management, HFZ Capital Group has built a name on breadth of talent, a creative approach to deal structuring and a unique ability to manage risk. The company's depth of experience ensures strong returns for both partners and investors.

About Douglas Elliman Development Marketing:
Douglas Elliman Development Marketing, a branch of Douglas Elliman Real Estate, offers unmatched sales and marketing expertise for properties throughout New York City, Long Island, Westchester and the Hamptons, as well as throughout the United States. The firm ranks amongst New York City's most prominent sales and marketing firms. Drawing upon decades of experience and market-specific knowledge, the Elliman team offers a multidisciplinary approach that encompasses every aspect of real estate including comprehensive in-house research, product development, marketing and sales, operations, property management, and mortgage financing. Through a strategic international partnership with Knight Frank Residential, the world's largest privately owned property consultancy, the company markets their properties to global audiences in 43 countries across six continents.

About Shelton, Mindel & Associates:
Shelton, Mindel & Associates is an internationally-acclaimed architectural firm providing a seamless integration of site complex, landscape, architecture and interior design, and product development to high-profile spaces throughout South America, Europe, Asia and the United States. Founded in 1978 by partners Lee F. Mindel and the late Peter L. Shelton, the Manhattan-based firm crafts intricate, unified environments where the elements of design and construction are seamlessly fused together as comprehensive works of art. Shelton, Mindel & Associates is the recipient of the 2011 National Design Award, a member of Architectural Digest's AD100 and Deans of American Design, Interior Design's Hall of Fame, and has been named one of the Top Ten Designers of the world by Robb Report, ranking them amongst the globe's most prominent architectural firms.

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