Singapore GIC pays US$30 Million For A Garage In New York

Therealdeal.com, 5 Oct 2009
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.
Singapore paid $737 per square foot, almost double the average price per square foot of $392 for Manhattan office building sales closed in the first half of the year, according to data in a July report from investment brokerage Massey Knakal Realty Services.
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