Naftali Group Closes $810M Deal for Upper East Side Luxury Multifamily
JPMorgan Chase & Co. and GoldenTree Asset Management provided $675 million to Naftali Group for its $810-million purchase of 800 Fifth Ave., a luxury apartment building on Manhattan’s Upper East Side, Bloomberg News reported. The financing helped Naftali complete the deal it struck earlier this year to acquire the property from Winter Organization and Spitzer Enterprises. Family offices from Mexico, Japan and Israel funded the equity for the acquisition, according to Bloomberg.
“The acquisition of 800 Fifth Ave. 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.”
Newmark’s Jordan Roeschlaub and Nick Scribani brokered the debt. As previously reported, Newmark’s Adam Spies and Doug Harmon advised on the sale.
The closing of the deal follows shortly after another big-ticket sale in Manhattan, that of the former IBM Building at 590 Madison Ave.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Northgate Real Estate Group
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Essex Property Trust, Inc.
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