Naftali Group picks up UWS apartments for $71M

Acquisition is firm’s third substantial post-pandemic deal

New York /
Jun.June 23, 2021 12:15 PM
215 West 84th Street and Miki Naftali (Google Maps, Getty)

215 West 84th Street and Miki Naftali (Google Maps, Getty)

Miki Naftali doesn’t buy that New York City is dead. He buys apartment buildings.

The Naftali Group picked up a multifamily building at 215 West 84th Street on the Upper West Side for $71 million, the Commercial Observer reported. The building spans 100,000 square feet and has 128 units.

The private real estate firm financed its purchase with a $46 million loan — 65 percent of the purchase price — reportedly provided by an undisclosed global investment bank. The seller was Eagle Court.

The deal, which closed more than a week ago, is the latest by Naftali, who publicly opined on the future of the city by hanging a billboard of a defiant Jerry Seinfield op-ed at one of his condo projects.

The developer is also working on a pair of apartment buildings at 480 and 490 Kent Avenue on the Williamsburg waterfront with more than 485,000 square feet and 431 units between them.

More recently, Naftali secured $102.7 million to construct a condo project at 1165 Madison Avenue on the Upper East Side. The 13-story building will have just 12 units.

[CO] — Orion Jones





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