When it comes to constructing some of the great buildings of New York City, the lines of who’s doing what can sometimes be a little unclear. Architects draw and design the structure, an interior decorator chooses furniture for staging, the plumbers put in the pipes, the electricians wire the building, the list goes on and on.

Behind all of the little-but-critical things that go into constructing a great building, behind every single decision that gets made, is one person, the developer. For the Naftali Group, one of New York’s most prominent developers, that man is Miki Naftali.

We sat down with Naftali for a candid discussion about the real role of a developer in a project—from the first brick to when the doors swing open—that will serve as the ultimate how-to guide for anyone looking to be a great developer, learning from the master.

“I try to understand the demand and getting to a point that to be able to go after an opportunity. Making a decision how much money you can pay for it based on your underwriting and understanding, hopefully understanding, of the market, what can be done with over there, how much you can sell over there, how long it's going to take you to sell or to rent, if it's a rental property, how much it's going to cost you, can you get financing, how long it will take to build the project. All those elements need to work with you.

Then, try to win the bid or win the opportunity, or convince someone to sell you a piece of real estate or an old building, and to say, ‘Look, here is how much money we're willing to pay you,’ and hopefully to be in a position that you win it.

When you so-called 'shake hands' on a deal, then it moves into another process of negotiating the purchase and sale agreement, making sure that you know what you're buying, making sure that the seller is behind his promises. Before the closing and after the closing.

Then, at the same time, you need to negotiate with the lender. No one is buying full cash. You don't buy anything cash, so you need to negotiate with lenders. You need to make sure that the lenders are there for you. You need to make sure that you have a very good reputation, especially in a tight market, when the lenders are very selective and they're very careful who they lend to. You need to negotiate the loan agreement with the lenders.    

When you do all of that, from my point of view, the minute that I shake ... that I have a deal, before I sign, before I close, the minute that I have a deal and I start to negotiate on the purchase and sale agreement, but if I feel comfortable that I have the deal and now it's legal, from that moment I put together the design team.”

And if you’re thinking that’s the end of the developer’s work, think again. Naftali oversees some of the most impressive real estate projects in the city from The Shepard downtown to the twin developments at 221 and 210 West 77^th Street. What makes his projects most enticing though is not his ability to manage money and finances, but rather his ability to keep the artistic and quality of luxury and design in place.

“It takes about 12 months to go through a really good design process. So now you're in a process to make a decision, who is the right architect? Okay. You need to pick and choose the right architect. You need to make sure that they're available for you at the right price. Interior designers, mechanical engineer, electrical engineer, sprinklers, sound engineer, you name it. You have consultants that you put together as a team. You build your team to start to design the project.”

“Then, beside that, now you need to start to think about marketing and sales. So besides the brokers and the team, you start to think about positioning, creative. They're another team of people that you hire to advise you on how to create the story. Okay. It's not,’"Okay, I built something, and now I open a sales office and hopefully someone will come to...’. There's a lot involved. Basically branding. The same as on the fashion side, you know, many high-end brands spend a lot of money and time thinking about everything. How to brand a product and how to work in our minds that we will want to buy it, right? Between social media and other things that are, or opening a store on fifth avenue that is not necessarily a profitable store, but that's what they need, to promote the brand.”

Throughout the entire process, Naftali’s craftsmanship oversees everything with his team. They have become a united force to make sure every detail is perfect, and are always adaptive and quick to respond at a moments notice. When asked, Naftali likened his work to that of a great chef, commanding over the kitchen with pinpoint accuracy, and with a team that works loyally to support the same goal.

“It's a lot of work and effort, a lot of work and effort, to make sure. As a developer, I'm pushing everyone. I don't want to cut corners. If it takes four weeks to get something from overseas and we can't get it sooner, communication. Making sure they understand. About a year into the life of the new building-we also manage the building, or asset manage the building at least a year after we complete the building, because a year after the board of condominium can make a decision—we say, ‘Okay, we want to go to another...’.”

And the process continues on and on, until some of the best parts of this city get built…

The post The Master Builder: Miki Naftali appeared first on Haute Residence by Haute Living.

A duplex residence at 210 West 77th Street will cost up to $21 million.

Enter developer Miki Naftali and Danish architect Thomas Juul-Hansen, whose 210 West 77th Street project will nourish the Upper West Side community with 18-stories of luxury apartments, slated for occupancy in early 2016. West-siders who are already salivating better prepare to pony up some dough, as apartment prices will reportedly range from $4.85 million to over $21 million.

77th Street residences are half- and full-floor units ranging from 2,058-square-feet to a .5,973-square-foot duplex penthouse

Inspired by Danish modernism, the 210 West 77th Street building resembles an edifice you’d bicycle past in Copenhagen rather than New York City (and that’s a good thing). Juul-Hansen’s building design features hand-formed Danish brick, Juliet balcony façades, and oversized mahogany windows that are harmonious with the Upper West Side’s architectural character. Not since Danish immigrant Jonas Bronck (for which The Bronx is named) has a Dane given New York City so much in a time of need.

“I’m a big believer in the beauty of natural materials,” said Juul-Hansen, whose résumé includes interiors at luxurious developments, private homes and Michelin star restaurants such as Jean-Georges. “I believe this gives the architecture and design a timeless quality.”

The 210 W. 77th Street project offers fireplaces and outdoor terraces.

The 77th Street residences are half- and full-floor units ranging from 2,058-square-feet for three-bedrooms, to a 5,973-square-foot duplex penthouse with outdoor space. Select residences offer fireplaces and outdoor terraces. All units offer private access via an elevator that transports directly to the apartments.

The residences boast contemporary features—open layouts, solid oak-plank floors, large chef-quality kitchens with Miele appliances, polished Everest Grey quartzite slab countertops, and sleek white-lacquer cabinetry with polished chrome handles.

Chef-quality kitchens come with Miele appliances, Everest Grey quartzite countertops and sleek white-lacquer cabinetry.

Master bathrooms offer Grigio Piove marble, custom wenge wood vanities and Waterworks bathtubs. Meanwhile the powder room showcases beautiful polished Marron Imperial marble slabs on the floor, accent walls, and custom carved sinks. The lobby design is highlighted by a sculptural double-height glass ceiling, detailed white oak wall panels, and Omani limestone flooring.

The building’s amenities include a 24-hour doorman and concierge, a roof terrace, a fitness center, bicycle storage, and perhaps (according to design renderings) select garages. The residences are close to popular eateries such as Ouest, Spiga, and Telepan, as well as a handful of gourmet markets.

An elevator transports directly to the private residences.

“210 West 77th Street presented a unique opportunity to innovate architecturally while respecting of the character and beauty of the Upper West Side historic district,” said Miki Naftali, founder, chairman, and CEO of the Naftali Group, whose portfolio includes The Seymour at 261 West 25th Street, The Landmark Park Slope, The Bergen, and 33 Beekman.

The Upper West Side is an iconic neighborhood immortalized by pop culture—including the tragic assassination of John Lennon, and Seinfeld, You’ve Got Mail, Woody Allen’s Manhattan and most famously, by the Oscar-winning classic "West Side Story." Many artists, actors, celebrities, educators, and professionals call this community home. Dominated by five-story brownstones, famous Central Park towers with ornamented façades (The Dakota, San Remo, El Dorado) and older grand buildings topped with water towers, the Upper West Side is tight on space—despite its wide sidewalks and avenues. The 210 West 77th Street development is a rare example of recent new construction.

Upper West Side living space has always been a premium. During the construction of Central Park in the 1850s and 1860s, squatters moved their shacks into the Upper West Side (laying claim to any space they could find). This led to undesirable boarding houses and rowdy taverns.

One hundred years later, tenements used in the filming of "West Side Story" were razed to make way for Lincoln Center for the Performing Arts. Today, the luxurious 210 West 77th building represents the latest call for urban renewal. But this modern west side story doesn’t require movie gangs or squatters to reclaim turf—just luxury space for its restless citizens.

Academy Award-winning film West Side Story was filmed on the Upper West Side, near where Lincoln Center now stands.

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