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GAIA Real Estate acquired 106 Norfolk St., an apartment property near three other multifamily assets GAIA acquired on Manhattan's Lower East Side

GAIA Real Estate Adds Lower East Side Apartments to NYC Portfolio

GAIA Real Estate added 106 Norfolk St., an apartment building with ground-floor retail on Manhattan’s Lower East Side, to its downtown portfolio. The building consists of 28 residential units and two retail suites. 

The acquisition of 106 Norfolk for an undisclosed sum follows GAIA’s recent purchase of three other assets nearby and is within a few minutes’ walk from most of GAIA’s downtown portfolio. 

“This is an additional building for our growing portfolio in NYC and fits our strategy of investing in properties in strong areas of the city that attract young professionals,” said Danny Fishman, GAIA’s CEO. “The property will also help us grow our NYC retail portfolio in an area where retail is booming as a result of the changing work-from-home dynamics.” 

Retail tenants at 106 Norfolk include Nurse Bettie’s, a favorite among bar enthusiasts, and La Contenta, a celebrated Mexican eatery. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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