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Report: Naftali Group to pay $167M for NYC development site

Property developer Naftali Group is under contract to acquire a development site comprising six low-rise buildings in New York City for $167 million, The Real Deal reported, citing unnamed sources.

Muss Development and the Aryeh family are the owners of the site, which offers more than 250,000 buildable square feet. The development parcels are at 1461-1469 Third Ave. and 204 E. 83rd St., with additional air rights coming from two buildings at 1453-1455 and 1459 Third Ave., according to the report.

The publication could not obtain a comment on the matter from the involved parties.