HAP Investments announces the acquisition of 65 Franklin Street (also known as 360 Broadway), a 5-story vacant residential property in Tribeca. The $46 million transaction closed today.
In addition, HAP Investments has secured inclusionary air rights to build a residential property on the site.
HAP Investments secured financing from G4 Capital Partners in the amount of $32 million. This is the fourth deal HAP Investments and G4 Capital Partners have done together in New York City.
“We’re thrilled to announce our first acquisition in Tribeca. This is an amenity-rich neighborhood, boasting some of the city’s best art galleries, cuisine and world-renowned cultural institutions easily accessible by public transit,” said HAP Investments Co-Founder and CEO Eran Polack. “G4 Capital Partners seamlessly provided the necessary financing, which enabled us to act quickly on this desirable asset.”