March 10, 2015

BlueGate Sells the 30 Park Avenue for $181 Million

BlueGate Partners is pleased to announce the successful sale of 30 Park Avenue, a Class-A multifamily building located on Manhattan’s prestigious Park Avenue. Representing the seller, GID Investment Advisors, BlueGate sold the property to Thor Equities for $181 million.

Located in Manhattan, 30 Park is a 237 unit luxury apartment building rising 21 stories above the southwestern corner of Park Avenue and 36th Street in Manhattan’s desirable Murray Hill neighborhood. Located only three blocks north of the 33rd street stop on the Lexington Avenue subway Line and five blocks south from Grand Central Station, Thirty Park is ideally situated for commuting throughout New York City. The property contains studio through two-bedroom apartments equipped with high-end finishes and numerous amenities including a state-of-the-art fitness center, underground parking and a 24-hour concierge /door attendant. Three medical office tenants occupy the first floor of the property and there is a 142 space parking garage that occupies portions of both the first floor and cellar. Thirty Park is also conveniently located near the finest shopping, dining and attractions that New York City has to offer.

BlueGate is a boutique real estate investment banking firm with offices in New York and Palm Beach, and offers services in the areas of investment sales, portfolio and property financing, and debt and equity capital raising for real estate projects.

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