Petra CEO Andrew Stone and 114 East 32nd Street

Turkish-based hotel chain Marmara Hotels & Residences was the buyer that paid $55 million for the failed condominium conversion at 114 East 32nd Street, according to Crain’s. As The Real Deal previously reported, Petra Capital Management sold the property after taking it over from developer Harry Jeremais, who defaulted on a $95 million loan. [more]