N.Y. Gift Building changes hands

By Staff -- Home Textiles Today, 2/11/2004 12:00:00 AM

NEW YORK — The New York Gift Building, located at 225 Fifth Ave., is under contract for sale.

The buyer — a joint-venture partnership comprised of affiliates of Olympus Real Estate Partners, The Milestone Group, and Murray Hill Properties — has agreed to purchase the building from Green Stamp America for an undisclosed sum.

Murray Hill Properties, the lead partner in the joint venture purchasing 225 Fifth Ave., is a New York-based full-service real estate firm. Olympus Real Estate Partners is a domestically focused real estate firm, and the Milestone Group is a national real estate investment firm with over $850 million of assets under management.