On the heels of launching sales at The Benson – Madison Avenue’s first new condominium on the Upper East Side in 20 years – privately-held global real estate and investment firm Naftali Group is pleased to announce the promotion of David Hochfelder. Appointed to Chief Investments Officer from Executive Vice President of Acquisitions, Hochfelder will play an integral role in leading, identifying and securing opportunities that will continue to define Naftali’s expanding New York and national portfolio.

As CIO, Mr. Hochfelder will be responsible for all investments for the company including sourcing, structuring and execution. Additionally, he’ll be recruiting new investors and managing existing investor relations. A finance expert by trade, Hochfelder has been critical in the investment of more than $6 billion of real estate acquisitions throughout his career. Prior to joining Naftali Group, Hochfelder worked at RFR Holding, The City Investment Fund and The Lightstone Group.

Known for leading some of the most significant developments and landmark restorations in New York City, Naftali is focused on expanding its residential portfolio in the New York region. The firm is currently developing three buildings on the Upper East Side. In addition to The Benson, Naftali’s other residential projects include a building at 1165 Madison Avenue that will transform a prime corner at the 86th Street intersection and a new starchitect-designed tower by Robert A.M. Stern at 200 East 83rd Street.

Earlier this summer, Naftali acquired 470 Kent Avenue, one of the last and largest developable sites on the Williamsburg waterfront, for $102.38 million. This purchase is the largest land transaction recorded since the city’s shutdown earlier this year. 

Have a real estate move you think should be featured contact us or email at Jeremy@offthemrkt.com to tell us more! Follow Off The MRKT on Twitter and Instagram, and like us on Facebook.