Tell us what you think about the new Article Page. Send us feedback
NY Times negotiating sale for part of its building
NY Times in talks to sell several floors of its Manhattan headquarters
NEW YORK (AP) -- The New York Times Co. is in talks with an investment firm to sell several floors of its Manhattan headquarters to help pay off debt.
The newspaper reported that it's negotiating to sell the 19 floors it uses in the 42nd Street building, but not the six floors it leases to tenants.
The newspaper is talking to W.P. Carey & Co. about a possible sale-leaseback deal, which would let it sell the building and lease it back or borrow against it.
The Times had been trying to raise $225 million from its headquarters, and this week announced a $250 million investment from Mexican billionaire Carlos Slim Helu.
Times spokeswoman Catherine Mathis didn't immediately return a telephone message Friday. A W.P. Carey spokeswoman declined comment.
Add Alert