NEW YORK CITY–Gaia Real Estate has acquired the entire 50th floor of 330 E. 38th St.—known as the Corinthian—with plans to turn it into 15 luxury condominium units in early 2014.
The units will feature high-end redesign and refinishing to include the hallways. The previous owner operated the floor as executive suites.
“We are happy to continue to create value for our investors through creative deals in prime locations,” says managing partner Amir Yerushalmi. “The Corinthian is a well established condominium building which is undergoing a current upgrade of its many amenities. The views from the floor we acquired are some of the best views you can get in New York.
Adds managing partner Danny Fishman, “This deal demonstrates that even in highly competitive and fully recovered markets like Manhattan, creative and flexible investment companies can create value for investors.”
Amenities in the building include indoor, glass swimming pool and spa; a gym and yoga studio; private park with jogging track; a 24-hour doorman and concierge services; a sun deck; a private square entrance with a fountain, valet parking and garage with direct underground access to the building's elevators and a childrens' play room.
All of the amenities will undergo major renovation and modernization by the building in 2014 and will also include an adult lounge, wi-fi booth, golf simulator, fireplace and more.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
