Gaia Real Estate purchases 144 condo units at The Corinthian in Manhattan for $147 million

Gaia Real Estate has purchased 144 condominium units at The Corinthian, a 57-story, premier residential building located in the Murray Hill neighborhood at 330 East 38th St. for $147 million. Gaia plans to renovate, rebrand and sell the 144 units as a unique collection of high-end luxury condominiums designed by famed designer Andres Escobar. Redevelopment will include high-end design and finishes, along with unit combinations to create spacious and modern layouts. Centrally located between 37th and 38th Sts., The Corinthian features 817 condominium apartments, a 24/7 doorman, concierge services and an extensive amenities package that has recently benefited from a comprehensive renovation program, placing it amongst Manhattan's elite full service properties. In December 2013, Gaia acquired the entire 50th floor of the building and is currently nearing completion of a gut renovation, which will result in 15 distinguished luxury units. Gaia's managing partner Danny Fishman said, "New York is one of Gaia's primary markets. Previous knowledge of both the building and the area are poised to give Gaia and its investors a tremendous advantage in executing our business plan." "Gaia will continue to look for creative, out-of-the-box deals to maximize returns to Gaia and its investors," added Gaia's Managing Partner Amir Yerushalmi. Amenities in the building, spanning the entire 17,000 sq. ft. 4th floor, include; indoor swimming pool and spa, state of the art gym and yoga studio, private park with jogging track, children's play room, golf simulator and outdoor sun deck. Additional building amenities also include a private square entrance with fountain, private terrace and adult-only lounges, valet parking and garage with direct underground access to the building's elevators and more.