Residential


Below-Grade Work Continues for RAMSA’s 255 East 77th Street on Manhattan’s Upper East Side

Below-grade work is continuing at 255 East 77th Street, the site of a 36-story residential skyscraper in the Lenox Hill section of Manhattan’s Upper East Side. Designed by Robert A. M. Stern Architects with Hill West Architects as the architect of record and developed by Naftali Group, the 500-foot-tall structure will span 170,481 square feet and yield 62 condominium units, as well as 3,861 square feet of retail space, two cellar levels, and 33 enclosed parking spaces. The property is alternately addressed as 1481 Second Avenue and located at the corner of Second Avenue and East 77th Street.

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Photo by Michael Young

$18 Million Mezzanine Loan Provided For 24-01 Queens Plaza North In Long Island City, Queens

Naftali Credit Partners, a subsidiary of Naftali Group, has closed on an $18 million mezzanine loan for 24-01 Queens Plaza North, a new residential project in Long Island City, Queens. The loan is one of two recent mezzanine loans issued by Naftali Credit Partners, totaling $31.4 million combined, and was issued to the project’s developer, New Empire.
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