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Article: Times Tower construction delay.(Brief Article)
- Article from:
- Real Estate Weekly
- Article date:
- October 29, 2003
- Author:
CopyrightCOPYRIGHT 2003 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The New York Times Co. will delay construction on its new Eighth Avenue headquarters after the company's buying partner failed to obtain financing for its portion of the 52-story building.
A Times' spokeswoman said there was no indication that Forest City Ratner, which will own the upper floors of the planned skyscraper, will be forced to sell off their share of the building.
"I don't think that's a likely scenario at all," said Catherine Mathis, vice president of corporate communications for the New York Times Co. "I think they'll find financing or they'll find a tenant." The Times reported Forest City had been unable to find a primary tenant and had ...