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Article: ING sells NYT tower share to Ratner.
- Article from:
- Real Estate Weekly
- Article date:
- June 14, 2006
CopyrightCOPYRIGHT 2006 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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Forest City Ratner Companies announced that it has entered into an agreement to acquire ING Real Estate's interest in the 1.5 million s/f, 52-story New York Times Building now under construction near Times Square.
Forest City Ratner and ING have been partners with The New York Times Company in the building, which is scheduled to open next spring.
Floors 2 through 28 will serve as The Times' Company headquarters and will be owned by The Times. Forest City Ratner will own the entire 700,000 s/f on floors 29 through 52 as well as 24,000 s/f of retail space on the ground floor.
The project's first lease, for 100,000 s/f, was recently signed by ...