1041 Madison Avenue

Naftali Group-connected entity buys UES mixed-use building Israel Discount bank provided $11M mortgage

1041 Madison Avenue and Miki Naftali (Credit: Getty Images)

An entity connected to Miki Naftali s Naftali Group just closed on a five-story mixed-use building on the Upper East Side for $21.1 million.

The developer purchased 1041 Madison Avenue, a six-unit re上海千花网论坛

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ntal property between East 79th and East 80th阿爱上海同城

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streets. Israel Discount Bank provided an $11 million mortgage for the deal, filings with the city s Department of Finance show.

Representatives for Naftali didn t immediately return requests for comment. The buyer, 1041 Madison Owner LLC, is registered C/O the Naftali Group, Department of State records show.

The sellers, Albert Monasebian a上海千花网龙凤论坛

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nd Yusuf Bildirici, bought the property in 2014 for $15 million, city records show. The building is home to Gentile s Fine Foods on the first floor and Michael s, a women s consignment shop, on the second floor.

Earlier this year, the Naftali Group sold 14 residential condo units at 275 West 10th Street, a rental-to-condo conversion, for $10.3 million. In July, rent-stabi爱上海同城

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lized tenants filed a lawsuit against the developer, alleging that it refused to pay rent credits promised during construction.

Last year, Naftali tapped David Hochfelder, a former senior executive at RFR Holding, to head up the company s acquisit新上海贵族宝贝论坛

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ion team. At the time, Miki Naftali indicated the hiring meant the company would again start seeking opportunities after a two-year quiet period in which it hunkered down and focused on selling its projects.

Tags: Commercial Real Estate, miki naftali, naftali group
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