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The Government of the Republic of Singapore acquired 318 E. 48th St. in Manhattan from Chapman Consulting Group for $29.5 million, or $787 per square foot.
The five-story, 37,500-square-foot former parking garage was built in 1940 and renovated in 1956. It is in the Plaza District. The Government of Singapore plans to convert the property into a modern office building.
Gil Robinov of NAI New York City represented Singapore. David Noonan of Newmark Knight Frank represented the seller, Chapman Consulting Group.