City Biz List | 01/19/2016
Broadway Construction Group (BCG), an affiliate of GFI Capital Resources Group, announced that it has merged with Zephyr Construction Management LLC, a full-service, New York City-based construction management firm. The combined firm will operate under the Broadway Construction Group name. Through the merger, Broadway Construction Group has added a wealth of industry knowledge and expertise to its leadership team and vastly expanded the firm’s depth of talent and collective experience. BCG President and CEO Steven Hurwitz will retain his position, while Zephyr Founder and Principal Joseph Aiello will join BCG as a partner and Chief Operating Officer of the combined company. With the merger, BCG will now have seven active construction projects and 38 construction professionals on staff.
Since its founding in 2013, Broadway Construction Group has managed construction for a range of projects across New York City. The firm’s most notable project is The Beekman Hotel and Residences, a historic 19th-century landmark across from City Hall Park in Lower Manhattan. The project is a 350,000-square-foot, 51-story tower that includes 287 hotel rooms, 67 luxury condominiums, two restaurants and a nightclub. The firm’s current projects include an 180,000-square-foot, 287-key boutique lifestyle hotel at Bond Street and Schermerhorn Avenue on the border of Downtown Brooklyn and Boerum Hill, and 810 Fulton Street, a 400,000-square-foot, 363-unit residential development in Fort Greene.
Zephyr brings decades of experience completing ground-up projects across New York City for some of the city’s most prominent developers, including Rabsky Group, Charney Construction and Hello Living. Some of Zephyr’s recent projects include Halo LIC, a 26-story, 284-unit luxury apartment building in Long Island City; The Jackson, a 53-unit luxury condo project, also located in Long Island City; Leonard Pointe, which comprises 188 apartments in the heart of Williamsburg; 651 New York Avenue, a 40-unit condo project in Flatbush; and 2100 Bedford Avenue, an eight-story, 72-unit condo project, also located in Flatbush.
“With Joseph Aiello overseeing all of our day-to-day operations, we’re confident that he will steer our expanded firm of 38 professionals to the next level,” said Hurwitz. “Joseph has a wealth of experience managing the construction for projects across the boroughs, and we’re very eager to tap into his expertise and broaden our capabilities.”
As part of the merger, BCG will assume construction management responsibility for all of Zephyr’s construction projects. These include two separate Queens residential projects, respectively comprising 140,000 square feet and 90,000 square feet; a 300,000-square-foot mixed-use building in Brooklyn; and a 40,000-square-foot luxury condo project in Brooklyn. BCG’s combined projects total more than $500 million in costs and 1.5 million square feet.
“Just a few years after launching, BCG has established itself as a premier construction company, with the ability to handle marquee projects,” said Aiello. “By combining Zephyr’s capabilities with those of BCG, we are creating a joint company with capabilities that rival those of any construction firm in the region.”
Hurwitz added: “BCG’s management team has a strong track record of successfully coordinating with the various stakeholders associated with the most involved construction projects. Zephyr’s addition to BCG will serve to benefit our entire client base. We’re very pleased to bring them into the BCG family. In addition to enhancing the services we provide to our clients, the expanded BCG will also reinforce synergies with our affiliate, GFI Development Company, to offer our clients a broader range of service.”
For additional information on new projects or to request construction services, please contact Joseph Aiello at 212-837-4614