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March 9th, 2009

New York Times raises another $225M in office sale

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Written by: The Iowa Republican

New York TimesNEW YORK (AP) — The New York Times Co. has sold most of its home office for $225 million, padding the newspaper publisher’s financial cushion amid a sharp drop in revenue that has forced management to scrounge for more money.

The deal announced Monday covers 21 of the building’s 52 floors. That space, about 750,000 square feet (69,676 sq. meters), became the Times’ headquarters when the midtown Manhattan offices opened in 2007.

Read more about the sale here

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The Iowa Republican

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