2 posts and columns on Forest City Ratner

The New York Times Sells Its HQ, Starts Paying $2 Million a Month in Rent

in Media on March 9, 2009 at 5:16 am PT

More cash to shore up the New York Times: The company has sold off (most of) its portion of its Manhattan headquarters for $225 million. It’s now a renter paying $24 million a year.
new-york-times-building

Cash-Strapped New York Times Wants to Borrow Against Its HQ: Anyone Want to Lend It $225 Million?

in Media on December 8, 2008 at 2:00 am PT

The New York Times is running low on cash but has a $400 million debt payment due next spring. How to foot the bill? Raise money anywhere it can. Last month, the Times cut its dividend, a move that could save it up to $100 million a year. Now the paper is looking to borrow against its new Manhattan headquarters: It has hired a real estate firm to raise up to $225 million using the value of the building as collateral.