Hyundai Motor Group has purchased for $275M a redeveloped, eight-story boutique office building in Lower Manhattan's Tribeca neighborhood, near the Holland Tunnel.
The Seoul, South Korea-based automaker plans to use the building for its NYC offices and a ground-floor showroom. The company acquired the property at 15 Laight Street from developer Vanbarton in a cash transaction brokered by Newmark.
Vanbarton redeveloped the 108K SF property, putting outdoor terraces on each floor. The sleek structure, with double-sized windows in a configuration resembling a futuristic pagoda, is surrounded by trees, separating the building from the non-stop traffic near the entrance to the tunnel. The building is within walking distance of the World Trade Center.
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