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.

Other News

C&W predicts jump in European investment

Investment into European property will rebound with 6.3% growth in volumes in 2017 despite rising inflation and political volatility, forecasts from Cushman & Wakefield’s 2017… Read more »

N North America

2016 global top 100 real estate owners

Only the US, China, Japan and Germany have GDPs larger than the total assets held by Estates Gazette Global’s top 100 real estate owners. This… Read more »

N North America

Centres of excellence

The top 100 richest cities in the world account for around one-third of global GDP. To access 25% of available global output, you would need… Read more »

N North America