Naftali Group, a privately held global real estate development and investment firm based in New York, has closed on a construction loan for its forthcoming 255 E. 77th St. project on Manhattan’s Upper East Side. J.P. Morgan, along with Starwood Capital, provided a $236 million financing package for the luxury residential development, which will include 62 condominium residences. With construction currently under way at the development site, sales for the luxury condominium building are slated to launch in 2024.
When complete, 255 E. 77th St. will be surrounded by picturesque tree-lined streets and New York City’s most iconic cultural, shopping and dining. Located in the heart of the Upper East Side, the forthcoming luxury development will be a short distance from Central Park, The Metropolitan Museum of Art, The Guggenheim and The Frick Collection, as well as Madison Avenue and Fifth Avenue retail and dining destinations.
