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NEW YORK CITY-In the largest deal in the company's history, Forest City Ratner Cos. has refinanced the New York Times Building, located at 620 Eighth Ave., for $640 million. The closing of the financing with HSH Nordbank comes one month before the 1.5-million-sf building is slated to hold its grand opening.
FCRC co-owns the Midtown property with the New York Times Co. The Times owns the second through 27th floor; FCRC owns the 29th through 50th floors, the 52nd floor and 21,000 sf of ground-floor retail. The two jointly own the 28th and 51st floor.
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