**Naftali Group Closes $810M Deal for Upper East Side Luxury Multifamily Property**
JPMorgan Chase & Co. and GoldenTree Asset Management have provided $675 million in financing to Naftali Group for the $810 million acquisition of 800 Fifth Avenue, a luxury residential building located on Manhattan’s Upper East Side. The transaction marks one of the most significant multifamily deals in recent months.
The purchase, which was finalized earlier this year, involved the acquisition of the property from Winter Organization and Spitzer Enterprises. Equity for the deal was sourced from family offices based in Mexico, Japan, and Israel.
“The acquisition of 800 Fifth Avenue reflects our mission to invest strategically and thoughtfully in New York’s real estate market,” a Naftali spokesperson said in a statement. “We look forward to sharing our vision for the contextual redevelopment of this site with the community in the coming months.”
Debt financing was arranged by Newmark’s Jordan Roeschlaub and Nick Scribani. The sales side of the transaction was advised by Newmark’s Adam Spies and Doug Harmon.
This deal comes on the heels of another high-value transaction in Manhattan—the recent sale of the former IBM Building at 590 Madison Avenue.
