Cohen Equities of New York has acquired a seven-floor section of the former Strawbridge & Clothier department store building at 801 Market St., the real estate investment firm said in a statement on its website.

Cohen purchased floors seven though 13 of the 1930s building, encompassing 382,800 square feet of offices, the company said.

The property was purchased Monday for $30.5 million from debt servicer LNR Partners LLC, which had taken control of it after the default of an earlier owner, said Taylor King of real estate services firm Newmark Grubb Knight Frank, who helped broker the transaction.

The building's lower six floors are separately owned by Pennsylvania Real Estate Investment Trust. Tenants of those floors include the Century 21 off-price retailer, as well as the offices of The Inquirer, the Philadelphia Daily News and

Tenants of the section acquired by Cohen include the U.S. Department of Health and Human Services. 

Cohen was drawn to the investment by development activity in the area, including the East Market project on Market Street between 11th and 12th, and the redevelopment of the Gallery at Market East shopping mall, according to the statement. 

“801 Market Street gave us an opportunity to acquire an iconic (central business district) asset," Cohen chairman and chief executive Meir Cohen said in the release. 

The offices are Cohen's second Philadelphia-area purchase after its acquisition in May of Oak Hill Plaza, a 165,000-square foot office building in King of Prussia, according to the release.