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New York & Tri-State  + Uptown/Bronx  + Finance  |  December 6, 2023
Emily Fu
By: Emily Fu

Naftali Group Lands $236M Loan for UES Condo 

Naftali Group has secured a $236 million construction loan from J.P. Morgan and Starwood Capital for 255 East 77th Street in Upper East Side, set to feature 62 luxury condos and slated for a 2024 sales launch.  

“We are pleased to announce this significant construction loan for our forthcoming 255 East 77th Street project and once again have the confidence of our lenders,” said Miki Naftali, Chairman and CEO of Naftali Group. “Following successful sell-outs of our record-breaking Manhattan projects, we have continued to show our support and confidence in New York City with strategic investments and plans for several exciting new development projects.” 

Following sell-outs of three Manhattan luxury projects since 2020, including The Benson and The Bellemont, Naftali Group has launched and sold out three luxury condo projects in Manhattan since 2020. 

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About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.
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