HFZ Plans to Demolish Bancroft Building

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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.

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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.