Deutsche Bank to expand on Wall Street

Deutsche Bank is in the process of acquiring one of the former AIG
headquarters buildings from Youngwoo & Associates and its Korean
banking partners, Kumho Investment Bank, according to the New York Post.
The deal involves breaking down the walls that separate four to five
floors between 72 Wall Street and 60 Wall Street, the bank’s adjacent
leased building. The plan also calls for leveling out and extending the
bank’s trading floors into the two buildings. CB Richard
Ellis’ Bill Shanahan and Darcy Stacom sold the AIG two-building
headquarters at 72 Wall Street and 70 Pine Street
to Youngwoo and Kumho for $150 million last August.
The lower floors of 70 Pine Street are being marketed by Cushman &
Wakefield for rent at $35 per square foot as office space, with the top of the
1.1-million-square-foot Art Deco tower slated for hotel and residential use. [Post]