Blackstone Pays $160M For 11 Floors In NY

Investment firm, Blackstone Group, will purchase 11 floors of the former New York Times Building in New York for about $160 million.

Investment firm, Blackstone Group, will purchase 11 floors of the former New York Times Building in New York for about $160 million, The New York Times reports. Africa Israel USA has sold the office condominium, which it acquired for $525 million in 2007. As per the deal, Blackstone will own the 5th through 15th floors and part of the 4th floor. The building is leased to tenants, such as discount retailer Daffy’s, bowling alley Bowlmor and science-focused exhibition hall, Discovery Times Square.

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