The New York Times owner sells part of his office

The buyer of the NYTC office is the American Investment W.P. Carey & Company. According to the contract, the NYTC has the right to rent the sold premises of 750 thousand sq/feet (69,7 thousand sq/meters) for 15 years for $ 24 mln per year. Within the nearest 10 years the NYTC can buy the office back for $ 250 mln.
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