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800 5th Avenue

Miki Naftali And David Hochfelder Of Naftali Group Secure $675M Loan For Development Site In Lenox Hill
FINANCEDDevelopment Site

Miki Naftali And David Hochfelder Of Naftali Group Secure $675M Loan For Development Site In Lenox Hill

800 5th Avenue

$675,000,000

$1,928/SF

Building Size

350,000 SF

Asset Type

Development Site

Closing

Aug 13, 2025

AI

The property asset involved in this transaction is a development site located at 800 5th Avenue in the Lenox Hill neighborhood of Manhattan. It encompasses a total square footage of 350,000 and is subject to a loan amount of $675,000,000, classified as an acquisition loan.

Summary of transaction details:

The deal was facilitated by key individuals from prominent firms. Aaron Casden from JP Morgan and Sam Friedland from GoldenTree were the lenders involved in this transaction. Miki Naftali and David Hochfelder, representing the Naftali Group, served as the landlords in this deal, while Jordan Roeschlaub and Nick Scribani from Newmark acted as the landlord's representatives.

Players

Nick Scribani

Newmark

Broker

$55.4B

vol

195 deals

Broker
Newmark
NewmarkBrokerage
GoldenTree Asset Management
GoldenTree Asset ManagementLender
Miki Naftali

Miki Naftali

Naftali Group

Landlord

$3.9B

vol

31 deals

Landlord
Naftali Group
Naftali GroupLandlord

New York Development Site Market Snapshot

Boundary boundary · Development Site · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.02%

Cash-on-Cash

-0.01%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93