North America

Korea Post acquires stake in Manhattan offices

Korea Post, represented by CBRE Global Investors’ US Managed Accounts Group, has acquired a 47% interest in a 12-storey Manhattan office building.

7 West 34th Street comprises 477,143 sq ft of offices and shops in the midtown south submarket, which is known to attract technology, advertising and media occupiers.

The stake was acquired from Vornado Realty Trust, which retains a 53% interest.

The deal follows significant renovations made in 2014-15.  A new rooftop terrace with views of the Empire State building is currently under construction.

CBRE represented Vornado.

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