Development and investment firm Naftali Group has agreed to buy the 33-story luxury apartment building at 800 Fifth Avenue for more than $800 million.
Naftali has entered a contract to purchase the 208-unit property from Spitzer Enterprises — run by former New York Gov. Eliot Spitzer — and Winter Properties, Bloomberg reported.
Newmark’s Adam Spies and Doug Harmon brokered the sale. Spitzer declined to comment, while the Newmark brokers and spokespeople for Naftali and Winter did not respond to requests for comment.
In January, Spitzer and Winter put the building between East 61st and East 62nd streets up for sale with an expected value of as much as $1 billion, Bloomberg reported. The roughly 355,000-square-foot tower overlooking Central Park is currently used for rentals, with available apartments ranging from $16,500 per month for a two-bedroom to $23,000 for a three-bedroom, according to StreetEasy.
While Naftali’s exact plans for the building are unclear, the property was marketed as a “major development opportunity” for investors to turn into for-sale residences, Bloomberg reported. And Naftali is no stranger to luxury residential developments on the Upper East Side, as it owns both the Benson and Bellemont condo towers, according to its website. Across the river, Naftali is also in the process of building a five-building com-plexin Williamsburg, Brooklyn, called Williamsburg Wharf, which would
have 850 apartments and condos.