Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-The New York Times reported on Monday that its parent company plans to borrow up to $225 million against its headquarters building at 620 Eighth Ave., to ease a potential cash flow squeeze as profits shrink. Stock in the New York Times Co. has lost more than half its value this year.

According to the published report, the Times Co. has retained Cushman & Wakefield to act as its agent to secure financing, either in the form of a mortgage or a sale-leaseback. A C&W spokeswoman referred GlobeSt.com’s calls for comment to the Times Co.

The Times Co. owns 58% of the 52-story 620 Eighth Ave., which was completed last year. Forest City Ratner Cos., which developed the 1.5-million-square-foot tower, owns the rest of the building. To access the complete story, click here.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.