Connect Midwest: Multifamily Adaptive & Reuse Trends – Chicago June 13

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Naftali Group’s Bellemont Condos Begin Closings, Starting with $68M Penthouse

Closings have commenced at Naftali Group’s The Bellemont at 1165 Madison Ave. with the record-breaking $67.8-million Penthouse C being the first residence to close. The luxury condominium development brings a limited collection of 11 residences to Manhattan’s Upper East Side.

Designed by architectural firm Robert A.M. Stern Architects with interiors by Achille Salvagni, the fully sold boutique condo is nearly complete and is now open to residents after launching sales in the fall of 2021. Compass Development Marketing Group handled sales and marketing.

“The Bellemont offers a one-of-a-kind residential experience, and we are pleased to have reached this significant milestone and welcome home our first residents to this timeless Upper East Side building,” said Miki Naftali, CEO and chairman of Naftali Group. “Joining The Benson as our second ground-up new development on Madison Avenue, The Bellemont has been met with a similar overwhelming response from buyers who recognize the value of this unique property we have created here.” 


Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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