Smith Gambrell Russell Represents GAIA Real Estate in $14 Million Acquisition of 106 Norfolk Street in Downtown Manhattan
NEW YORK (August 9, 2022) – Smith, Gambrell & Russell, LLP (SGR) is pleased to announce that the Firm served as legal counsel to GAIA Real Estate, a privately held, full-service, vertically integrated real estate investment firm, in its $14 million acquisition of 106 Norfolk Street, an apartment building with ground floor retail in Manhattan’s Lower East Side.
106 Norfolk has been well maintained and renovated over the last decade. The apartment layouts are efficient with 28 residential units offered in one-bedroom or two-bedroom floorplans. The ground floor retail tenants include Nurse Bettie’s, a favorite among bar enthusiasts, and La Contenta, a celebrated Mexican eatery. The six-story building is conveniently accessible by three metro stations and six subway lines and within walking distance of SoHo, TriBeCa, and the East Village.
Partner Moty Ben Yona, of the Real Estate and Corporate practices in SGR’s New York office, represented GAIA.
About GAIA Real Estate
Founded in 2009, GAIA is a privately held, full-service, vertically integrated real estate investment firm with in-house asset, construction, and property management capabilities. Headquartered in New York City, GAIA specializes in alpha-generating projects, value-add properties, creative structures, and “out of the box” transactions alongside broad-based market themes. Over the last 13 years, GAIA has acquired over $3.2 billion in assets comprising 18,000+ units across 81 properties. The firm employs 50 people in its headquarters in Manhattan as well as over 100 people across its properties throughout the United States. For more information, visit www.gaiare.com.
About Smith Gambrell Russell
SGR is a full service, international law firm that advises regional, national and global businesses on a wide range of legal matters. The Firm’s 270 attorneys provide legal counsel in more than 45 specialized practice areas, including corporate transactions, litigation, intellectual property, aviation, banking, real estate, construction, employment law, and employee benefits and executive compensation. Founded in 1893, SGR has offices in Atlanta, Austin, Charlotte, Chicago, Jacksonville, London, Los Angeles, Miami, New York, Southampton, and Washington, D.C.
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