Naftali Group pays $71M to Vornado Realty Trust for development property in the Upper East Side

Miki Naftali’s Naftali Group through the entity 1169 Madison Ave Owner LLC paid Vornado Realty Trust’s 50 East 86th Street Owner LLC $71.0 million for 50 East 86th Street, 48 East 86th Street in the Upper East Side. The deal closed on December 11, 2019, and was recorded on December 13, 2019. The transaction consists of 2 parcels, including the tax class multifamily, miscellaneous (D9) and containing 8 residential units.

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