Naftali Group, led by Chairman and CEO Miki Naftali, has secured a $236 million construction loan from J.P. Morgan and Starwood Capital for their latest project at 255 East 77th Street in the Upper East Side. The development will feature 62 luxury condos with a planned sales launch in 2024.
“We are delighted to announce this significant construction loan for our upcoming project at 255 East 77th Street and once again have the trust of our lenders,” stated Naftali. “After successfully selling out three record-breaking projects in Manhattan, we continue to demonstrate our support and confidence in New York City through strategic investments and plans for multiple exciting new developments.”
Since last year, Naftali Group has sold out three luxury condo projects including The Benson and The Bellemont. With these successful sell-outs under their belt, they are now moving forward with several new development projects throughout Manhattan without mentioning any specific names or locations on Connect CRE.
