Miki Naftali's Naftali Group Secures $67.5 Million Loan From First Citizens Bank For Kips Bay Project

The asset involved in this transaction is a multifamily property located at 307 3rd Avenue in the Kips Bay neighborhood of Manhattan. The Naftali Group is the landlord associated with this asset, which has secured a substantial loan amounting to $67.5 million from First Citizens Bank for its development financing needs.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $67,500,000
• Address: 307 3rd Avenue
• Market: Kips Bay, Manhattan
• Lender: First Citizens Bank
• Landlord: Miki Naftali - Naftali Group

In this transaction, Miki Naftali represents the Naftali Group, indicating his pivotal role in securing financing for the multifamily project. The loan provided by First Citizens Bank supports the group's ongoing development efforts in the competitive Manhattan market.