Naftali Group Closes On Gramercy Parcel At 23rd Street

June 25, 2013

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20-Story Luxury Condominium Planned Between Second and Third Avenues

Continuing to seek out prime locations throughout Manhattan, The Naftali Group has successfully completed the acquisition of a strategic development site at 234-238 East 23rd Street in the coveted Gramercy neighborhood.

The 86,229-square foot assemblage, made up of two adjoining buildings between Second and Third Avenues, was purchased for $23,125,000. With 62-feet along the south side of 23rd Street, Naftali, one of the city’s most active development firms, plans to build a 20-story condominium with approximately 62 residential units and ground-floor retail.

“Our team takes particular pride in our ability to create cutting edge luxury residential properties that positively impact and enhance their surrounding neighborhood,” stated Miki Naftali, Chairman and Chief Executive Officer of The Naftali Group.

The project is expected to break ground late this year, and once complete, will include one-to three-bedroom residences. Expected amenities at the building will include a 24-hour doorman/concierge, storage units, fitness center, bike storage, and a rooftop terrace/lounge.

With a reputation for exceptional residential property development, The Naftali Group adds 23rd Street to its list of upcoming Manhattan condominium projects.