Kesseler and Noonan of NKF rep owner in $29.5 million sale of 45,000 s/f Manhattan garage

The Republic of Singapore has purchased 318 East 48th St., a 45,000 s/f garage that will be converted to a UN Mission. The sale price was $29.5 million. Newmark Knight Frank's (NKF) Howard Kesseler and David Noonan represented the building's previous owner, Chapman Consulting Group, along with Justin DiMare, Jordan Gosin and Jennifer Schwartzman. Gil Robinov of NAI Global represented the buyer. Legal counsel were Samuel Ross of Olshan Grundman Frome Rosenzweig & Wolosky for Chapman and Andrew Odell of Duane Morris for Singapore.The property sits on a 7,537 s/f lot on the south side of East 48th St., between First and Second Aves. It features a 75-ft. frontage on East 48th St. Singapore will reconfigure the building to house its Mission to the U.N. Newmark Knight Frank is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark Knight Frank and London-based partner Knight Frank operate from over 200 offices in established and emerging property markets on six continents. Last year, transactions were valued at more than $32 billion with annual revenues of over $811 million. With a combined staff of more than 6,300, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.