Naftali Group, a leading real estate development company, 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 prestigious Upper East Side neighborhood of New York City. The luxury condo building is set to feature 62 high-end units and is scheduled for a sales launch in 2024.
According to Miki Naftali, Chairman and CEO of Naftali Group, this significant loan demonstrates the confidence that lenders have in their upcoming project. He also highlighted the success of their previous Manhattan developments which have achieved record-breaking sell-outs.
In recent years, Naftali Group has launched three luxury condo projects in Manhattan – The Benson, The Bellemont and now the highly anticipated 255 East 77th Street. This showcases their unwavering support and belief in New York City’s real estate market as they continue to invest strategically into new development projects.
The article “Naftali Group Lands $236M for UES Condo” was originally published on Connect CRE website.
