Naftali Group

Miki Naftali

Interview With The Developer: Miki Naftali On The Upper West Side, & The State of New York City’s New Developments

The Naftali Group has been working on several substantial new developments over the past few years, and two of the more prominent buildings are almost across the street from each other, at 210 West 77th Street, and at 221 West 77th Street, in the heart of the Upper West Side. YIMBY caught up with Miki Naftali at 210 West 77th Street to discuss how the firm’s other projects are coming along, how they managed to acquire two development sites that avoid the red tape that chokes so much of the Upper West Side, and the state of the market in general.

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275 West 10th Street

13-Story, 42-Unit Condominium Conversion Refinanced At 275 West 10th Street, West Village

Back in June of 2014, Starwood Capital Group and Naftali Group filed applications to convert the 13-story, 145-unit rental building at 275 West 10th Street, in the West Village, into 38 condominium units. Now, the developers have secured a $65.9 million loan for the project, dubbed the Shephard, according to The Real Deal. The property sits within the Greenwich Village Historic District Extension, so any exterior alterations to the structure would have to be approved by the Landmarks Preservation Commission. As filed, the building will see its residential space reduced from 139,547 to 136,948 square feet. The condominium units will average a very spacious 3,604 square feet apiece, some of which include penthouse and duplex units. Amenities include a library, a spa, a recreation room, and a fitness center. Beyer Blinder Belle is the design architect and Gachot Studios is the interior designer. The conversion is expected to be complete in 2017.

261 West 25th Street

12-Story, 49-Unit Residential Building Complete At 261 West 25th Street, Chelsea

It was in November of 2014 when YIMBY last brought you a construction update on the 12-story, 49-unit residential project at 261 West 25th Street, in Chelsea, when the structure was nine stories above street level and still rising. Since then, construction has since wrapped up entirely on the 128,259-square-foot building, dubbed the Seymour, as seen in photos by Tectonic. The condominium units will average a very spacious 2,618 square feet apiece, and amenities include recreational rooms and lounges, a gym, an outdoor area, storage space, and a 25-space bicycle storage room – all in the cellar – a library on the ground floor, and an outdoor rooftop terrace. McGinley Design and Rottet Studio are responsible for the interiors, and Goldstein, Hill & West Architects is the design architect. Naftali Group is the developer and occupancy is expected imminently.

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