Murray Hill’s unique location in Midtown Manhattan has made it one of the more desirable neighborhoods to live in New York City. After all, residents here are near the city’s famous hotspots, be it the bright frenzy of Times Square or the refined elegance of Gramercy Park. But Murray Hill itself has its own particular charm, made apparent with the variety of retail and dining options available in the area. As a result, the neighborhood has been attracting Manhattan home hunters by the dozen, a fact that has not been missed by New York’s real estate developers. This could therefore be one of the reasons why Manhattan-based real estate investment firm Atlas Capital Group has bought the Eastgate Tower Hotel at 224 East 39th Street, with the intention of converting the 147,000-square-foot property into a 190-unit luxury rental building.