Korean Government Drops $15.8 M. on Land Near Koreatown

The Republic of Korea has paid $15.8 million for a vacant piece of land at 122 East 32nd Street, which sits, appropriately enough, just East of New York's diminutive yet bustling Koreatown, alive late into the night with karaoke bars and some of the best kim chi and barbecue in town.

City records indicate that the Consulate General of the Republic of Korea signed the deed for the 6,370-square-foot lot on March 3. The government...

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