Statuto Group buys Herald Square building in New York (US/IT)

Statuto Group has announced the purchase of Herald Square building in Manhattan, New York. The 103,000 ft² mixed-use building comprises both office and retail space.

DTZ originated the deal, acting as purchase advisor, and will now be responsible for asset management on behalf of the Statuto Group.

Alessio Lidozzi, Director International Investments and Client Manager for Statuto Group at DTZ, commented, "In a market such as the US, where only 7% of the total investment volume in real estate comes from foreign investors, the ability to purchase quality assets through open tender procedures shows once again that Statuto is not only a first class investor in Italy, but also a careful and determined investor in international markets."

Source: DTZ

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