Condé Nast understands that it’s nice to be wanted; even better to be paid for it. According to Crain’s, the Port Authority of New York and New Jersey has paid more than $47 million to cover the cost of Condé’s remaining lease at its previous headquarters in Times Square.
In 2011, Port Authority—desperate to sign a big name to the list of tenants at 1 WTC—agreed to pay the remaining money owed on Condé’s 4 Times Square [pictured] contract.
Unless
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