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NEW YORK CITY-Having originally been acquired with the idea of accommodating class A office space but then slated for hotel use, the former New York Times Co. building will have an office component after all. The Blackstone Group has paid $160 million to buy an office condominium at the 750,000-square-foot 229 W. 43rd St., now owned by a joint venture of Africa Israel USA and Five Mile Capital Partners and known as the Times Square Building.

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