Featured Project: Battery Maritime Building
When are financial projections reasonable? What makes a project feasible? How do you assess an industry you know little about?
PNC’s Historic tax credit division Group engaged HPI to provide assessment and due diligence services, reviewing the financial projections for the sizeable food & beverage operations (multi-concept) planned for the Battery Maritime Building at the Southeastern tip of Manhattan.
As the project progressed, the development partner, The Dermot Company, engaged our services to provide advisory on the advancement of the food & beverage development. HPI provided an assessment report as well as recommendations for critical elements of the further project progression.
Later in the process HPI was tapped once more by PNC for an additional independent vetting of the financial projections and the conceptual framework underlying them. Our report included independent projections based on the information known at the time, market context, as well as recommendations for improvement of the facility’s brand aspirations and income potential.