Naftali Group Acquires Development Site In Upper West Side For $71M

A development site located at 215 West 84th Street on the Upper West Side has been sold for a staggering $71,000,000 in a recent transaction. The property spans a total of 145,000 square feet and is valued at $489 per square foot. The buyer of the site is the Naftali Group, a prominent real estate development company.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $71,000,000
• Address: 215 West 84th Street
• Market: Upper West Side
• Square Footage: 145,000
• Price per Square Foot: $489

The Naftali Group was represented in the deal by brokers Bob Knakal, Stephen Palmese, Hall Oster, and John Hageman from JLL. These brokers facilitated the successful purchase of the development site on behalf of their client.

In addition to the sale price, a loan amount of $46,000,000 was secured for the transaction. Brokers Max Herzog and Scott Aiese from JLL were involved in arranging the loan for the Naftali Group.