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HFZ Buys Upper East Side Building As Part Of Possible Assemblage

HFZ Capital Group could be putting an assemblage together on the Upper East Side.

The Manhattan-based investment company bought the two-story building at 1135 Lexington Ave. for $22.5M, The Real Deal reports. The purchase follows a $7M acquisition of 1131 Lexington that HFZ completed in November.

HFZ purchased 1135 Lexington from Mary McCullough and John Bono, a pair of Long Island-based owners. Both stories of the building are occupied by a branch of First Republic Bank. HFZ will possibly add 1129 and 1133 Lexington, as well as a series of 79th Street addresses to form an assemblage with up to 80K SF of development rights, TRD reports.

HFZ declined to comment on its plans for the transaction. The developer has drawn acclaim for boldly designed buildings, including the $1.9B, curving skyscrapers it is erecting along the High Line, designed by Danish architect Bjarke Ingels.