Related Companies has won a bid to buy a stake in the second-tallest office buil...
NEW YORK - Related Companies has won a bid to buy a stake in the second-tallest office building in Manhattan from AT&T’s WarnerMedia in a deal expected to top $2 billion, a source involved in the bidding said on Monday.
AT&T, looking to cut debt after last year’s $85 billion takeover of Time Warner, plans to lease back the space at the tower, which has the highest outdoor observation deck in the Western Hemisphere jutting out from the 100th floor. That sale allowed Time Warner to acquire its space at Hudson Yards, a $25 billion project developed by Related with Canada’s Oxford Properties that officially opened last month.
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