Belnord Building Sells for $575M

NEW YORK CITY—HFZ Capital Group is said to have purchased the Belnord, a residential rental property on the Upper West Side, for $555 million. Law firm Paul Hastings represented the buyer—HFZ affiliate Belnord Partners LLC—in connection with its acquisition of the Belnord, at 225 W. 86th St., a property Extell Development had owned for more than 20 years, according to the Wall Street Journal.

The Paul Hastings team was led by Bruce DePaola, and included partner Peter Olsen and associates Gerd Alexander, Alyssa Lust and Seth Fersko. The asset purchase included the entire residential component, but none of the retail component.