Hedge funder Harsh Padia has option for 76 11th penthouses priced at $56M

By Adam Pincus

Hedge fund manager Harsh Padia has options to buy four apartments at Ziel Feldman’s troubled 76 Eleventh Avenue condominium, retail and hotel project in Chelsea, according to a PincusCo analysis of city property records.

The options were memorialized in four uniform commercial code filings which noted the four units, noted HFZ Capital was the debtor and which noted, “Pursuant to option agreement.” The filings were dated December 14, 2020, and recorded December 15, 2020.

The units are PH 32A, PH 32B, unit 11C and unit 6A. Padia is CEO of HAP Capital.

The filing does not include the prices, but the prices are disclosed in the New York State Attorney General’s website, which has the offering memorandum amendment 6, submitted in April 2020, which prices unit PH 32A at $30 million and PH 32B at $26 million.

Padia has bought high-priced condo units in the neighborhood in the past. He acquired a unit at Steve Witkoff’s 150 Charles Street in 2016 for $29.1 million.

In addition, Padia bought a penthouse at the seven-unit 24 Leonard Street in 2019 for $23.96 million.