Gaia Closes $147M Murray Hill Purchase, Going Condo with Andres Escobar Design

Source: Commercial Observer

Investment firm Gaia Real Estate has nabbed 144 units at Murray Hill’s Corinthian from Spitzer Enterprises for $147 million. The sale, at 330 East 38th Street, closed on Aug. 14, with the transaction appearing in public records today. Gaia is converting the units, which Spitzer Enterprises had been renting out, back to condominiums, with an Andres Escobar design, Commercial Observer has learned.
In December 2013, Gaia acquired the whole 50th floor for $14.55 million and is nearing completion of the gut renovation of 15 new condos, which the company will keep for its partners, said Danny Fishman, a managing partner at Gaia. Read full story

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