Midtown tower with famed lineage sells for first time in eight decades

An office building once owned by John Jay Astor has sold for the first time in 82 years. Jay Properties bought 8 W. 38th St. from the Felder family for $35 million, or $250 per square foot. The buyer is the investment arm of Jay Suites, a provider of flexible workspace and conference facilities. Jay has a conference center on the building’s third floor that can accommodate 300 guests. The 12-story building boasts early 20th-century Beaux-Arts design with an ornate facade and intricate detailing. It’s across the street from the...