Updated, 10:13 a.m., August 19: Miki Naftali has paid $20.1 million for four buildings on West 25th Street, where he will build a 12-story condominium tower, the Wall Street Journal reported.
The two new parcels acquired in the deal, when combined with a site on the same street that Naftali purchased late last year for $37 million, will let Naftali build 61 units ranging from one to three bedrooms, some of which will be rentals. The architect will be Alan Goldstein from Goldstein, Hill & West Architects, whose other projects include 56 Leonard Street, a spokesperson for Naftali Group told The Real Deal exclusively. Stribling Marketing Associates will handle sales at the building, the spokesperson added. [more]