NEW YORK -- The New York Times Co. has sold 21 floors of its headquarters building near New York's Times Square.
The sale to investment firm W.P. Carey & Co. is for $225 million.
The newspaper had said in January that it was in talks with Carey for such a deal. Like other publishers, it has been seeking different ways for raising cash to pay off debt as sales of advertising decline. It suspended its dividend in February.
The 52-story building was completed in 2007.
The 21 floors sold to Carey house the Times' offices, and the company is leasing them back from Carey under a 15-year contract.
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