255 East 77th Street
This is a clean, closed luxury condo sale in Lenox Hill, one of Manhattan's most resilient and high-demand residential submarkets, with a strong price per square foot of $3,002 that is broadly consistent with comparable ultra-luxury product in the area. The seller, Naftali Group, is a highly reputable developer with a deep track record of successful luxury condo dispositions across Manhattan, lending significant credibility to the asset quality and construction standards. The buyer profile is less documented publicly but the transaction size and all-cash or well-capitalized nature implied by the deal structure reflects a qualified end-user or investor. The DSCR of 0.94x and negative cash flow noted in the listing calculator are characteristic of luxury NYC condo acquisitions at this price point and do not represent an underwriting concern for a primary or secondary residence use. No red flags regarding liens, litigation, distress, or defaults were identified, and the overall deal presents as a high-quality, low-risk luxury residential transaction.
Deal Stats
Parties
Seller / Landlord
Miki Naftali & Danielle Naftali - Naftali Group
Naftali Group, led by Miki Naftali, is a prominent New York City luxury residential developer with over 26 recorded deals and $3.8B in transaction volume, known for high-end condo developments across Manhattan including notable projects in the Upper East Side and Midtown.
Buyer / Tenant
Ravi Sanhi
Ravi Sanhi appears to be a high-net-worth individual acquiring a luxury residential condo in Manhattan's Lenox Hill neighborhood; limited public deal history is available, but the ability to transact at nearly $12M suggests strong financial capacity.
Score Analysis
Why this score
Seller Credibility & Track Record
Naftali Group's $3.8B transaction volume and 26+ recorded deals demonstrate exceptional expertise in luxury Manhattan condo dispositions, significantly validating asset quality and construction standards.
Submarket Resilience
Lenox Hill is among Manhattan's most resilient luxury residential neighborhoods with consistent demand and pricing stability, reducing downside risk.
Price Per Square Foot Alignment
The $3,002/SF pricing is broadly consistent with comparable ultra-luxury Upper East Side product, indicating fair market valuation without premium overpayment.
Limited Buyer Due Diligence Available
Ravi Sanhi's minimal public deal history creates uncertainty around acquisition intent, financial sophistication, and likelihood of successful closing despite apparent liquidity.
Negative Cash Flow Profile
The 0.94x DSCR and negative cash flow are standard for luxury NYC owner-occupied condos and reflect investment use-case rather than income-producing asset concern.
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Verify buyer's acquisition intent & capital source
Confirm whether Sanhi is an end-user, investment buyer, or 1031 exchange participant, and validate all-cash/financing structure to de-risk closing contingencies.
Benchmark against recent Naftali Group project comps
Cross-reference pricing against Naftali's other recent Lenox Hill/Upper East Side dispositions to validate $3,002/SF represents market-rate or value positioning.
Document condo board financials & reserve status
Provide building reserve funding ratio and recent board meeting minutes to confirm no underlying structural or financial risks in the underlying asset.
Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Condo Sale 255 East 77th Street Daily limit: 5/10 Ravi Sanhi Purchases Condo From Miki Naftali & Danielle Naftali For $11,735,563 In Manhattan SOLD $11,735,563 3,909 SF Sold 2 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Price Per Square Foot: $3,002 Total Square Footage: Transaction Type: A 3,909-square-foot condo unit was sold at 255 East 77th Street in Manhattan's Lenox Hill neighborhood. The transaction was completed for $11,735,563, translating to approximately $3,002 per square foot. Summary of transaction details: Property Type: Condo Transaction Amount: $11,735,563 Address: 255 East 77th Street, Lenox Hill, Manhattan Square Footage: 3,909 Price per Square Foot: $3,002 Buyer: Ravi Sanhi Seller: Miki Naftali & Danielle Naftali - Naftali Group The seller, Naftali Group, has successfully closed the sale of the condo unit to Ravi Sanhi, marking a significant transaction in the luxury real estate market. See More Players All Buyers | Sellers Miki Naftali 26 deals $3.8B volume SELLER Details Deal Summary IMAGE: Miki Naftali & Danielle Naftali DATE: 05/17/2026 ADDRESS: 255 East 77th Street MARKET: Lenox Hill, Manhattan ASSET TYPE: Condo BUYER: Ravi Sanhi SELLER: Miki Naftali & Danielle Naftali - Naftali Group SALE PRICE: $11,735,563 SF: 3,909 - PPSF: $3,002 NOTE: Naftali Group has sold a 3,909-square-foot condo unit at 255 East 77th Street in Manhattan's Lenox Hill neighborhood to buyer Ravi Sanhi for $11,735,563. The luxury transaction for unit closed at approximately $3,002 per square foot. Email New York | @tradedny Contact Get in touch with the broker you want Name Phone (optional) Message I'm an agent These are similar buyers of Condo properties in this price range based on this deal Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search No recent news available for this market No active listings available for this market Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Purchase Price Loan-to-Value (%) Interest Rate (%) Amortization Period 30 years Loan Term 10 years Operating Income Gross Potential Rent (Annual) Vacancy Rate (%) Operating Expenses (Annual) Property Tax Insurance Maintenance Utilities Management Reserves Reset Net Operating Income (NOI) $625,896.70 Debt Service Coverage Ratio (DSCR) 0.94x DSCR below 1.0x - deal does not cover debt service Cap Rate 5.33% Cash Flow (Annual) -$41,693.97 Cash-on-Cash Return -1.27% Monthly Debt Service $55,632.56 Annual Debt Service $667,590.67 Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. States National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming News Agents Agencies About About Us FAQ Testimonials Help Help Center Return Policy © 2026 Traded Media LLC . All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use