Back in 2015, HFZ Capital bought the massive Belnord Residences—an apartment complex that takes up the entire block of 86th Street between Broadway and Amsterdam Avenue—from Extell for $575 million with the intent of turning the century-old rental into condos.
Now, a more concrete proposal for the building has been made clear, according to the Real Deal. HFZ filed plans for the condo conversion with the attorney general's office, and those give some insight into how much units could cost along with the building's ultimate sellout price: a whopping $1.3 billion.
With that high of a sellout price, the historic landmark, built in 1908, would then become one of New York City's most expensive buildings (Extell's Central Park Tower is expected to have a $4 billion sellout, for reference). With 213 apartments expected to be created as part of the condo conversion, that would put the average apartment price in the revamped Belnord at $6.1 million. That's about in line with the prices seen at similar grand old buildings, like the Apthorp or the Ansonia.
It would also make the Belnord the Upper West Side's second most expensive building, per TRD; only 15 Central Park West is expected to have a higher sellout price.