HFZ Plans to Demolish Bancroft Building



3-7 West 29th Street
3-7 West 29th Street

Developer HFZ Capital is planning to raze the Bancroft Building, a 10-story, 61,230-square-foot office building at 3-7 West 29th Street, between Broadway and Fifth Avenue, The Real Deal reported.

The building is just one of three that HFZ, run by Ziel Feldman, plans to tear down in order to erect a 350,000-square-foot mixed-use tower, Department of Buildings records indicate.

The other sites are a four-story mixed-use building at 11 West 29th Street and a 12-story, 108,750-square-foot commercial property at 8-14 West 30th Street. Mr. Feldman bought the properties from the Collegiate Reformed Protestant Dutch Church for $26.2 million in October.

HFZ and Collegiate Asset Management, the real estate arm of Collegiate Church, entered talks to form a joint development partnership about a year ago.