Tighe was speaking about deals that were meaningful to her and mentioned that the process for this endeavor began in 1995. "I like transformation deals--deals that change the landscape," she said, while being interviewed by Michael G. Desiato, group managing director and editor-in-chief, Real Estate Media.
Tighe and Gregory Tosko of Insignia/ESG with Timothy Dempsey won the Real Estate Board's Henry Hart Rice Most Ingenious Deal of the Year Award for the development of The New York Times' proposed 52-story headquarters.
When the New York Times moved its presses to Queens in the mid-1990s, the company's leaders began to consider transferring the newspaper's editorial and administrative offices from its current headquarters on 43rd Street to a new facility that would require less maintenance and offer a more efficient workplace.
The Rice award winners designed a transaction that will produce a distinctive building that satisfies the Times' objectives. The brokers also structured a partnership with developer Forest City Ratner that will give the Times opportunities to expand within its new, partially speculative building.
RealShare New York was produced by Real Estate Media Inc., parent company of GlobeSt.com.
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