October 6, 2020
On the heels of launching sales at The Benson – Madison Avenue’s first new condominium on the Upper East Side in 20 years – privately-held global real estate and investment firm Naftali Group is pleased to announce the promotion of David Hochfelder. Appointed to Chief Investments Officer from Executive Vice President of Acquisitions, Hochfelder will play an integral role in leading, identifying and securing opportunities that will continue to define Naftali’s expanding New York and national portfolio.
“David has been instrumental in growing our investments, and we are proud to recognize his achievements for this well-deserved promotion,” said Miki Naftali, Chairman and CEO. “With his vast experience and unparalleled industry relationships, David has a proven track record in real estate transactions. We applaud him for his commitment to our company and the future of our great city of New York.”
As CIO, Mr. Hochfelder will be responsible for all investments for the company including sourcing, structuring and execution. Additionally, he’ll be recruiting new investors and managing existing investor relations. A finance expert by trade, Hochfelder has been critical in the investment of more than $6 billion of real estate acquisitions throughout his career.
Prior to joining Naftali Group, Mr. Hochfelder worked at RFR Holding, where he served as the director of acquisitions. He has also held senior positions at The City Investment Fund and The Lightstone Group. He graduated cum laude from the University of Pennsylvania with a B.A. in Philosophy, earned his MBA at Columbia Business School and received an M.S. in Real Estate from New York University.
Known for leading some of the most significant developments and landmark restorations in New York City, Naftali is focused on expanding its residential portfolio in the New York region. The firm is currently developing three buildings on the Upper East Side. In addition to The Benson, Naftali’s other residential projects include a building at 1165 Madison Avenue that will transform a prime corner at the 86th Street intersection and a new starchitect-designed tower by Robert A.M. Stern at 200 East 83rd Street.
Earlier this summer, Naftali acquired 470 Kent Avenue, one of the last and largest developable sites on the Williamsburg waterfront, for $102.38 million. This purchase is the largest land transaction recorded since the city’s shutdown earlier this year. For more information on Naftali Group and their portfolio of properties, visit http://www.Naftaligroup.com.
About Naftali Group
Naftali Group, a privately held global real estate development and investment firm based in New York City, has a prestigious track record, having led some of the most significant developments and landmark restorations. Founded and led by Miki Naftali, Naftali Group is highly specialized in identifying and acquiring undervalued properties in premier geographic areas with strong potential growth while maximizing the value of unique and irreplaceable assets. Naftali Group pursues strategic acquisitions and continuously grows its extensive portfolio of new development condominiums, income-producing, mixed-use properties and other assets. Through innovation and discipline, Naftali is recognized as a leading developer with a current and past portfolio comprised of more than 30 projects encompassing more than $9 billion in total value.