Posted Mar 24, 2025, 6:25 PM
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New Yorker for life
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Join Date: Jul 2001
Location: Borough of Jersey
Posts: 56,640
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Short of a billion…
https://www.bloomberg.com/news/articles/...anhattan-tower-for-more-than-800-million
Naftali to Buy Manhattan Tower for More Than $800 Million
By Natalie Wong
March 24, 2025
Quote:
Naftali Group, a real estate developer with footholds in New York and Miami, struck a deal to buy a luxury apartment building on Manhattan’s Fifth Avenue for more than $800 million, according to a person familiar with the matter.
Naftali Group entered a contract to purchase 800 Fifth Ave. from Spitzer Enterprises, the real estate firm run by former New York Governor Eliot Spitzer, and Winter Organization, said the person, who asked not to be identified citing private information.
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Quote:
Strong demand for housing in the city is boosting investor appetite for residential properties. Last year, Extell Development bought an office property on Madison Avenue, with plans to replace it with luxury housing and retail.
Naftali Group is a major developer in both New York and Florida. The firm developed a handful of residential buildings on the Upper East Side, including condo towers such as the Benson and the Bellemont.
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