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The Naftali Group has secured $102.7 million in construction financing for its new 13-story luxury condominium on Manhattan’s Upper East Side.

BHI, a full-service commercial bank, is providing $67.7 million and Israel Discount Bank of New York will hold $35 million of the overall loan amount for the project at 1165 Madison Ave. The 62,700-square-feet project includes twelve condominium residences and 3,750 square feet of ground-floor retail space. It is being designed by Robert A.M. Stern Architects.

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