New York Business Journal:

Sales begin on 15-unit luxury condo project on Madison Avenue

September 21, 2020Read Full Article

The developer of a 19-story condominium project on Madison Avenue said sales of the 15 luxury units begin Monday.


Real estate developer and investment firm Naftali Group said sales have begun on The Benson, which it said is the first newluxury condominium building on Madison Avenue on the Upper East Side in more than 20 years. Prices begin at $12.5 million.


“The Benson represents an extraordinary opportunity to call one of New York City’s most famous avenues home,” said MikiNaftali, CEO and chairman of Naftali Group, in a statement.


The Benson has been designed by Peter Pennoyer Architects and is located at 1045 Madison Avenue and East 79th Street onManhattan’s Upper East Side. Construction has begun, and the first closings are set for the end of 2021,


Amenities include a rooftop lounge with Central Park views; a private cinema; private spa with sauna and steam rooms; creativeart studio; wood-paneled library with an adjoining landscaped garden; a half-basketball court and a fitness center. Available forpurchase are a pet spa with washing station, bicycle storage, cold storage with room for fresh food and flower deliveries andprivate storage.


In May, Naftali Group purchased a site on the Williamsburg waterfront at 470 Kent Ave. in Brooklyn for $102.4 million. Naftali saidit’s planning a residential development at the site.


Naftali Group said prices begin at $12.5 million