Naftali Credit Partners, a subsidiary of Naftali Group, the leading and privately held, global real estate development and investment firm run by CEO and Chairman Miki Naftali, today announced the closing of a $62.85 million construction loan for 208 Delancey Street, the 12-story boutique luxury condominium development in Manhattan’s Lower East Side. Naftali Credit Partners provided terms on the full financing request, offering a full stack solution to the borrower.

“Naftali Group’s growing financial arm provides efficient and user-friendly capital in a relatively illiquid transitional lending market, and we’re pleased that New Empire Corp has partnered with us on 208 Delancey Street,” said David Hochfelder, Executive Vice President and Head of Acquisitions of Naftali Group.

For more information about Naftali Credit Partners, please visit https://naftaligroup.com/investments/.

About Naftali Credit Partners

Naftali Credit Partners (NCP), a subsidiary of Naftali Group, is a high-yield debt fund focused on originating mezzanine loans on transitional real estate assets. Currently investing out of its newly established fund vehicle, NCP lends on projects requiring flexible capital in illiquid segments of the market that traditional banks are less likely to finance due to increased regulation, transaction complexity or execution requirements that are better suited for an integrated real estate firm. NCP’s goal is to provide borrowers with a seamless and competitive execution while providing its investors with superior risk-adjusted returns and significant downside principal protection.

About Naftali Group

Naftali Group, a privately held global real estate development and investment firm based in New York City, has a prestigious track record, having lead some of the most significant developments and landmark restorations. Founded and led by Miki Naftali, Naftali Group is highly specialized in identifying and acquiring undervalued properties in premier geographic areas with strong potential growth while maximizing the value of unique and irreplaceable assets. Naftali Group pursues strategic acquisitions and continuously grows its extensive portfolio of new development condominiums, income-producing, mixed-use properties and other assets. Through innovation and discipline, Naftali is recognized as a leading developer with a current and past portfolio comprised of more than 30 projects encompassing more than $9 billion in total value.