The Singapore government paid $29.5 million for a 40,000-square-foot
garage building near the United Nations that will be converted to
office space, a broker on the deal said. The Government of the Republic of Singapore closed on the purchase of
318 East 48th Street, between First and Second avenues, Oct.1,
according to Gil Robinov, executive managing director at brokerage NAI
Global New York City, who represented the southeast Asian nation. The seller was Chapman Consulting Group, an owner and operator of
garages, and was represented by David Noonan at Newmark Knight Frank, a
statement from NAI Global said. Note: Correction appended.
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