Singapore: The Ascott acquires New York property, plans to invest $50m

Singapore: The Ascott acquires New York property, plans to invest $50m

Visual of Hotel Central Fifth Avenue New York living room. Credit: The Ascott

CapitaLand’s wholly-owned serviced residence business unit, The Ascott Limited (Ascott), has acquired a prime property on New York’s Fifth Avenue and will invest close to $50 million (S$68 million) in it.

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