Crain's New York Business

Naftali On the rise

August 19, 2013

see more: website

By Amanda Fung

Miki Naftali is emerging as one of the city’s most prolific residential developers. The Israel-born real estate investor known for overseeing the purchase and renovation of the Plaza Hotel has bought or launched about a dozen condo or rental projects since leaving his post as CEO of the Elad Properties two years ago, according to The Wall Street Journal. Mr. Naftali is the latest developer to take advantage of the booming Manhattan residential market. Recently, he purchased a development site on the Upper West Side for $55 million. He also paid $20.1 million for four buildings on West 25th Street, where he plans to build a 12-story condo tower. The 51-year-old developer is backed by a number of big investors, including SL Green Realty Corp. and AEW Capital Management. His firm, the Naftali Group, has 22 employees.

Naftali Group Constructions Images 5

Naftali Real Estate