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New York Times Liquidates 43rd Street

Late yesterday, Gawker got the scoop on the announcement that the New York Times Company has unloaded its legendary West 43rd Street HQ to Tishman Speyer for $175 million. The NYT will stay in the building until its new Renzo Piano tower is ready in 2007, at which point Tishman will convert the Gray Lady's dingy digs into media-agnostic office space.

Our special Curbed commercial real estate correspondent emails:

This bid beat out quite a few comers, including Related, who was probably going to do a residential tower. TSP will likely demolish the 44th Street, non-landmarked "annex building" to create a brand new class A office tower using additional available air-rights.
· NYT Moving On Up, Eventually [Gawker]