Press
PRESS FOR THE BELLEMONT
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Surface
Achille Salvagni Imbues a Manhattan Residential Tower With Parisian TouchesThe Rome-based interior designer’s first condo building, The Bellemont, blends 19th-century European grandeur with contemporary minimalist style on the Upper East Side...
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amNY
NYC new developments report 26% more sponsor contracts in February 2022February was another strong month for new development sales across New York City. Developers reported 402 new sponsor contracts, a 26% increase from the month prior and a 35% increase over the same period last year. Following a record year for new development sales with 5,000 sponsor units sold, the city’s total sponsor inventory has decreased approximately 7% since February 2021, from 15,000 units to 14,100, accounting for 3,900 units that were added to total inventory...
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Commercial Observer
Apartment Sales in New Manhattan Developments on the Rise: Brown Harris StevensNew Yorkers buying into new developments in Manhattan have experts feeling as though the market is stabilizing after two years of upset by the pandemic. A monthly contract analysis by Brown Harris Stevens Development Marketing shows a 10 percent increase in contract activity in February and a 29 percent uptick in sales volume from January....
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The Real Deal
February wrapped Manhattan luxury market’s record-breaking start to 2022After kicking off the year with a bang, Manhattan’s luxury market remained ablaze — even reaching another record as February drew to a close. In the first two months of 2022, 244 contracts were signed at $4 million and above, according to Olshan Realty’s weekly report. That’s the strongest start of any year since the report began tracking in 2006....
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Mansion Global
Manhattan’s Luxury Housing Kicks off Year With a Record-Breaking StartManhattan’s luxury real estate market continues to have a stellar 2022, breaking records for the number of contracts for the first two months of the year. There were 34 contracts signed for houses asking $4 million or more in Manhattan in the week ending Sunday, four fewer than the previous week, according to Monday’s weekly report from Olshan Realty. Last week’s contracts included 24 condos, six co-ops and four townhouses, with a total asking price sales volume of $272.695 million and a median asking price of $6.645 million...
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City Realty
Manhattan Contracts: Tudor City penthouse from Godfather II and Spiderman finds buyer; The Bellemont nears selloutAs Olshan Realty's market report shows, the past week was another triumphant one for buildings by Robert A.M. Stern Architects - the top contract was for a 5-bedroom, 5.5-bath, 4,784-square-foot penthouse at The Bellemont. The full-floor penthouse has access to two private terraces, and its asking price of $24.95 million is up $3.45 million from the original offering plan price of $21.5 million. Sales at The Bellemont launched in fall 2021; with this contract, only one unit in the building remains on the market....
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LX Collection
Upper East Side, New York: Old-School Glamour and World-Class Museums AboundFor more than a century, people have yearned to call Manhattan’s tony Upper East Side home. To riff on John Updike’s famous quote, the true Upper East Sider secretly believes that people living anywhere else have to be, in some sense, kidding. The exclusive residential neighborhood has recently undergone a renaissance in building development and has seen a burst of new restaurants and upscale shopping boutiques. This is in no small part thanks to the long-anticipated opening of the Second Avenue Subway in 2017. (Emphasis on “long-anticipated”; plans had been in the works since the 1920s.)....
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The Real Deal
15 Central Park West tops Manhattan’s luxury contractsThe first week of February may have brought a harsh wintry mix to Manhattan, but the borough’s luxury market appeared to warm up. Between Jan. 31 and Feb. 6, 40 luxury contracts were signed, according to Olshan Realty’s weekly report. Five weeks into the new year, the period marked the first time in 2022 the luxury market has cracked 30 or more contracts signed at $4 million and above....
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City Realty
Top Sales & Contracts: Norman Lear's $17.5M deal at 15CPW among top salesOne month into 2022, the New York real estate market is still going strong. In January 2022, CityRealty data shows that the average price paid for a Manhattan apartment was $2.14 million. This is up 12 percent year-over-year. Moreover, with 1,410 transactions recorded, volume is up a staggering 81 percent year-over-year...
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Crain's
Central Park West luxury condo deal leads sector’s busiest week of 2022 so farThe good numbers keep rolling in for Manhattan’s luxury residential real estate market. The sector, already on the heels of its strongest January since at least 2006, notched its busiest week of the year last week, with 40 contracts signed at $4 million or more, according to the Olshan report. This was the first time in 2022 that 30 or more contracts were signed in one week....
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Mansion Global
A Promising Start to February for Manhattan Luxury Home SalesManhattan’s luxury real estate market had a strong start to February, surpassing 30 deals within a week for the first time in 2022. There were 40 contracts signed for homes asking $4 million or more in the week ending Sunday, the most this year, and 11 more than previous week, according to Monday’s weekly Olshan Report. The deals included 27 condos, nine co-ops and three townhouses, with a total sales volume of $300.24 million....
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City Realty
Top 10 Upper East Side Condos: Wealthy buyers covet traditional designDuring the Gilded Age, the Upper East Side was known for the opulent mansions lining the streets. More than 100 years later, period drama The Gilded Age is set to premiere on HBO and a new Gilded Age appears to be taking shape off-screen. This time, instead of single-family mansions, a new crop of luxury condominiums is taking shape alongside Landmarks-protected townhouses and cooperatives. The units inside feature expansive floor plans to begin with, but some buyers are opting to combine apartments into one massive home with multiple levels and private outdoor space. The only discernible difference between this and the townhouses lining the blocks are the access to deluxe amenities and white-glove service...
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Mansion Global
Luxury Real Estate Deals in Manhattan Slowed Over Holidays, but Remained StrongEven when sales are down, Manhattan’s luxury real estate market is still setting records. There were 22 contracts signed for $4 million or more in the week ending Sunday, according to Monday’s Olshan Report. It was 20 fewer than the previous week, but still enough to set a record for the typically slow week between Christmas and New Year’s...
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Crain's
Luxury real estate kicks off 2022 by breaking a recordManhattan’s luxury real estate market is starting the year on a high note. The 22 contracts signed during the week ending Jan. 2 broke the record for the most ever recorded above $4 million at this time of year, according to a report by Olshan Realty. The previous high was 15 signed contracts as the city was ringing in 2017, the data shows....
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The Real Deal
Deals in new developments top Manhattan luxury market’s new yearManhattan’s luxury market started 2022 with a relative bang, counting 22 luxury contracts signed between Dec. 27 and Jan. 2. Though it’s 20 fewer than the previous week, last week’s total marks the highest start of the year since Olshan Realty’s luxury market report launched in 2006. The previous record was 15 contracts signed in 2017...
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CityRealty
Manhattan Sales & Contracts: December 2021 records $2.4B in sales; Upper East Side dominates luxury contractsAs 2021 drew to a close and 2022 began, downtown condos made up the majority of top sales. A quadruplex penthouse at 601 Washington Street with 6 bedrooms, 6.5 baths, one balcony, and two terraces closed for $31,000,000. Further uptown, a penthouse at The Greenwich Lane sold for $22,375,000, or 5.7 percent above its last listing price, in what appeared to be an off-market deal...
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New York Post
Luxury real estate is booming on Upper East SideThe once sedate Upper East Side is suddenly sizzling as luxe home sales are surging after being cratered by the pandemic. More contracts for homes priced at $4 million and up were signed on the Upper East Side than in any other Manhattan neighborhood during the first week of November, according to a report compiled by Donna Olshan of Olshan Realty...
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City Realty
Manhattan Sales & Contracts: Two penthouses at 56 Leonard Street lead top sales; 60 luxury contracts with $500M+ asking price volumeFrom November 7-13, 2021, a total of 299 condo, co-op, and condop sales closed in Manhattan, aggregating to a total of $587,211,863 and showing a climb from last week, when no sales were recorded on the city's Election Day holiday. The 136 condo sales recorded came to a median price of $1.78 million, or $1,626 per square foot. The 155 co-op sales came to a median price of $752,500...
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Crain's
Manhattan luxury homes market sees strongest week in a decadeManhattan’s luxury market just finished up its strongest week in almost a decade. The borough saw 60 contracts signed last week worth about $554 million, according to the Olshan Report, which defines a luxury deal as one worth $4 million or more. This was the strongest week for Manhattan by dollar volume since the week of Dec. 16, 2013, when the borough saw 72 deals worth about $576 million. It was the busiest week of the year by sales volume as well and just the fourth week of the year with 50 or more signed contracts...
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The Real Deal
Led by $67M deal at Naftali’s Bellemont, buyers flock to pricey UES condosIf pricey condo sales are any indication, the Upper East Side is back. The affluent uptown neighborhood dominated Manhattan’s luxury market last week, according to Olshan Realty’s report tracking contract signings for homes asking $4 million and up....
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Mansion Global
Manhattan’s Luxury Housing ‘Hot Streak’ Persists Into the FallA $66.5 million two-unit combo penthouse on the Upper East Side was the most expensive of 46 luxury home deals made in Manhattan last week, according to Olshan Realty’s weekly market roundup on Monday. It marked a continuation of the borough’s “rip-roaring hot streak,” with five straight weeks where contracts were signed on 40 or more luxury homes, wrote Donna Olshan, author of the report and president of Olshan Realty, which defines a luxury property as one priced at $4 million or more....
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City Realty
Manhattan Sales & Contracts: $444M in sales led by former Google CEO's purchase; Massive combo unit at The Bellemont enters contract with $66.5M askNine of the past week’s top ten contracts took place on the Upper East Side, and the top contract by far was #PHC/D, asking $66.5 million, at The Bellemont, a new 12-unit condominium developed by Naftali Group, designed by Robert A.M. Stern, and located at 1165 Madison Avenue. The Wall Street Journal announced the deal and noted that the buyer, identified only as a New Yorker who made the purchase off floor plans, is paying slightly more than the asking prices of $39.65 million for a seven-bedroom penthouse and $26.5 million for a four-bedroom penthouse for the developer to deliver a combined unit. This will result in a four-story apartment with 13,011 interior square feet, its own interior elevator, and eight private terraces totaling 2,350 exterior square feet. This is not the most expensive Upper East Side deal above 59th Street - the 2015 sale of a co-op at 834 Fifth Avenue for $77.5 million still holds that distinction - but it’s up there....
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East Side Feed
Buyer Spends $66.5 Million on UES CondoAn unidentified buyer has committed a whopping $66.5 million to combine the top two apartments of The Bellemont, a new development condominium at 1165 Madison Avenue at the corner East 86th Street. The developer, Miki Naftali of the Naftali Group, has confirmed this as a ‘signed contract’ with the Wall Street Journal. The Bellemont is one of two Madison Avenue condos under development by the Naftali Group....
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Inman
New Upper East Side condo goes under contract for $66.5MA luxury condo in a new construction building one block from Central Park has gone under contract for $66.5 million, building developer Miki Naftali of the Naftali Group told the Wall Street Journal. The deal will combine the two uppermost units of the Bellemont condominium located at 1165 Madison Ave. on the corner of East 86th Street. In total, the home will have four full floors occupying about 13,000 square feet, as well as 2,300 square feet of outdoor space....
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Mansion Global
New York City Apartment Slated to Sell for $66.5 MillionA new construction penthouse on Manhattan’s Upper East Side has gone into contract for $66.5 million, according to the developer. The buyer is combining the top two units at the Bellemont condominium at 1165 Madison Avenue, according to Miki Naftali, chairman and CEO of Naftali Group, the building’s developer. The completed unit will comprise four full-floors spanning roughly 13,000 square feet, plus approximately 2,300 square feet of outdoor space, he said...
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The Wall Street Journal
New York City Apartment Slated to Sell for $66.5 millionA new construction penthouse on Manhattan’s Upper East Side has gone into contract for $66.5 million, according to the developer. The buyer is combining the top two units at the Bellemont condominium at 1165 Madison Avenue, according to Miki Naftali, chairman and CEO of Naftali Group, the building’s developer. The completed unit will comprise four full-floors spanning roughly 13,000 square feet, plus approximately 2,300 square feet of outdoor space...
NAFTALI IN THE NEWS - THE BENSON
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Interior Design
10 Questions With… Achille SalvagniI wanted it to have the sensibility of a chic “Parisian maison,” starting with iron double doors leading to an oval jewel box of reception. The entry vestibule features elegant woods and stones. The lobby, taking inspiration from wooden stringed instruments, has a rounded ceiling, fluted walls, and a central, backlit onyx fireplace...
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Forbes
Upper East Side Turns From Glass Boxes To Classic ArchitectureIs there a Manhattan enclave more synonymous with timeless style and grace than the Upper East Side? Long a bastion of class, distinction and old money, the enclave sets its own tone, forgoing passing fads. Now, the neighborhood is returning to its roots by investing a select few all-new buildings with the time-honored architecture, bespoke detailing and Roaring Twenties Art Deco style that cemented its status a century ago.
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Financial Times
New York State of Mind: Optimism Fuels the Property MarketNew York’s rebirth began in mid-February, after the final dump of snow, while Texas shivered in an unforeseen freeze. Spring came all at once, with blue skies and jostling for the outdoor tables at the coffee shop around the corner. For months, they had lain as empty as a seaside promenade in winter.
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Mansion Global
30 High-End Contracts Signed in Manhattan Last WeekLast week, 30 high-end contracts asking $4 million or more entered into contract in Manhattan, according to a weekly report from Olshan Realty. That’s the most since November 2019, when 30 contracts were also signed. The breakdown of home types was 21 condos, four co-ops and five townhouses.
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LX Collection
London Sees U.K.’s Second-Priciest 2020 Sale; Upper East Side Penthouse in ContractThe 6,600-square-foot penthouse of Upper East Side condominium The Benson has gone into contract at its full asking price of $35 million, the Wall Street Journal reports. The seven-bedroom spread has multiple terraces, hand-painted cabinetry designed by Christopher Peacock, fireplaces with Pietra Gray marble hearths, and radiant-heated bathroom floors. The Peter Pennoyer-designed building features a host of amenities, including a rooftop lounge overlooking Central Park, a half basketball court, a gym, and a spa. Developer Miki Naftali predicts The Benson will be ready for move-ins by the end of 2021.
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The Wall Street Journal
New York Penthouse Sells for $35 Million, Offering Glimmer of Hope to Struggling Real-Estate MarketAmid the pandemic-plagued New York City real-estate market, a luxury penthouse condominium has gone into contract for $35 million, marking one of the biggest deals in the city in recent months. Miki Naftali, a veteran real-estate developer, said the deal is for the priciest apartment at the Benson, a 19-story building currently under construction on the Upper East Side.
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Commercial Observer
Plaza Sweet: Miki Naftali’s Journey to New York and Why He’s Not Going AnywhereAbout 20 years ago, Miki Naftali nearly gave up on New York. He left a high-flying role in commercial real estate investment and development in Israel to take on New York with Elad Properties, then a small investor and developer working out of two rooms in Fort Lee, N.J. But he found himself wanting. “It was a position in a small company,” he said. “I didn’t have any relationships —I didn’t know any brokers or banks, or anybody. At the time, they had a small project in Neptune, N.J., of all places; a bunch of townhomes they built. I said to myself, ‘This is not what I signed up for.’
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Robb Report
The First New Condos on Madison Ave. in 20 Years Just Hit the MarketWhile so much of New York City real estate has become increasingly premium, the Upper East Side still holds a certain allure with its proximity to Central Park, the Guggenheim, and the boutique shopping along storied Madison Ave.
