$525 Million New York Times Building Sold
By jason - up to 2007 (archived) • Apr 30th, 2007 • Category: Loose Ends, News for Creatives (archives)“A subsidiary controlled by Israeli billionaire Lev Leviev has agreed to purchase the New York Times building from Tishman Speyer for about $525 million, Mr. Leviev’s holding company announced today.
The landmark headquarters of the newspaper was built in 1913 and the New York Times, owned by New York Times Co., has occupied it ever since, but the company is vacating it this year for a gleaming new skyscraper two blocks away.
For Tishman Speyer, the closely held New York real estate goliath, the sale would triple the $175 million investment it made when it bought the building in 2004. The company didn’t return calls for comment.”
from Wall Street Journal
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